Quote:
Originally Posted by JosephC
I am looking for any guidance on specific sources where I may go to refinance a motorhome loan with a current 4.5% interest rate. Thank you!
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As Duck alluded, it all depends on where you are in your loan and what the cost of closing out the loans might be. There's a lot of 'ifs'.
Assuming no early payoff penalty, if it's brand new and above 7.5%, it could be worth it in interest to refi. If your halfway through it and a majority of your payment is now going to toward principle, it may not be and it makes more sense to pay the additional suggested above.
There's a way to calculate it. If I have time to look for it again, I'll post it here. In the mean time you may be able to find it with Google, something along the lines of 'should I refinance'.
Let us know how you make out.