[Holladay]

15 yr @ 2.6% 1k payment monthly closing 3.4k
10 yr @2.5% 1.4k monthly closing 4.8k

12k interest savings on 10 yr.

Cash flow isn't a problem. We over pay now on 1.2k

Maha Mike a 2% difference is huge. I understand the costs with refi and a .5% is not worth it.

The question is cash flow.




What got me was the difference between 15 and 10 yrs. $12,000. Yes, 1.2k deferential in closing, but I use the house for the next 20 yrs it is marginal.


Another thought process:

Good Lord 2.5%? 15 yrs ago that is what the banks were paying on savings accounts!

Almost free money.

When we refi at 3 7/8% a few years ago, I said we would never refi again. We live in a strange world. Time to take advantage of it.