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I had less than 9 years left on my 15 year fixed and even with closing costs would end up saving money with refinancing. But instead I'm going the cash out route and lowering my rate and getting some money to work on the house. With the amount Ive been paying I'll still get it all paid off in a total of 15 years with the lower rate.
I'd say its definitely worth it. Problem is for me I was told there is about a 3 weeks backlog on the 15 year fixed rates in my area.
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