Quote:
Originally Posted by rebekahb
I was doing it because I can go from 4.125% to a credit union of 2.5% and I was going to put down a large chunk of money down at re-fi. I think closing costs will be $3k or under. I'm trying to pay my house off in the next 5 years. Open to reasons on why I shouldn't.
|
If you are planning on paying off the house within 5 years, unless you are planning on just doing it in a lump sum in 5 years and not over the next 5 years, a refi likely does not make as much sense for you with $3k closing costs.