Posted: 1/5/2010 7:55:30 PM EDT
| I have 25 years left of a 30-year home mortgage with 5.75 percent interest. Is it worth paying the $4,000 in closing costs to refinance my home with a 15-year loan for an interest rate of 4.25 percent? My payment would increase by about $180 per month. Or would it be better to pay something like $200 more per month on my current home loan and forget about refinancing and $4,000 in closing costs? |