[WayneS]

Oh, and a shorter term... 15 years or less if you can handle the payment will save you a LOT of money in the long run.

[brownsfan]

“Oh, and a shorter term... 15 years or less if you can handle the payment will save you a LOT of money in the long run.”

If I refinance, I’ll continue to make my current payment. So, if my payment is $1000/month, and I refinance such that my payment is $800, I’ll still pay $1000. That’s the only way this would work in my favor.

The bank that currently has my loan quoted me 4.875 regardless of term. I never heard that before.