For the second time in less than two years, I've closed on my property. That's right: I finalized my refinance today. Woohoo!
I have to say that as with my original purchase, things for the refinance aligned as though it was all meant to be. My timing couldn't have been better -- right after I decided to refinance and completed my new loan application, which locked in my rate, the rates started to inch up a bit. I now have a 3.75 percent rate, down from 5.25, which, let's be honest, was still pretty darn low. And everything went so smoothly.
The closing costs were about $3,900. But I get to skip the June mortgage and I'll get back what was in my old escrow account. Factoring in those two things, it cost me $1,800 to refinance. I'll be saving $92 a month on my actual payment, so the closing will pay for itself in less than two years. And of course I'll be saving a decent chunk of change over the life of the loan.
Mom Week 2012 is coming up in June. I'm trying something a little different this year: a day trip. We're going to the Brandywine Creek Valley. My mother loves flowers and there are a couple of major gardens there. So that's an expense, what with the hotel and the tickets to the gardens. But all in all, it's not bad, and it'll be a nice change of pace from the usual assortment of activities. There will also be a few meals out. And she likes to shop, so there will be that too. But I'll keep my spending to a minimum.
My savings has taken a few hits lately. I'll get it together, though. I have to.