Should I refinance with higher interest rate?
I would like to change the title of the house under my name (I guess buying it from my parent). when doing so, I have to refinance it with a 30yrs, fixed interest rate of 5.474%, loan amount(principal) is $88,000. monthly payment is $737.77. the fee settlement for refinance and everything will be act as a gift so there will be no money out of pocket to refinance.
The question is should I refinance?
2. after refinance, the monthly payment is $737.77 is because it includes the interest charges and...
3. They said I'm not qualify for 15 years due to my income.