Originally Posted by jp3975
I think he is with the credit union. He saw an add for a lower rate on tv...quicken loans and asked me to look into whats the lowest rate he can get.
I think he said he has 4.5% right now on a 30 year note. He doesnt want a 15...said something about deducting the interest off of his taxes.
He lives in Arkansas if it makes any difference.
Ive always rented so i dont know much about this stuff.
Reducing debt and increasing assets beats the hell out of deductions.
Tell him to go to a credit union, and refinance for 2.87 @15/yr.
I just did.