refinance

[sernin]

I'm thinking about refinancing my house.

I've currently got 30 years at 5.375%.

My mortgage company can refinance it for 15 at 4.5%.

I think I'll be in my house at least 5 more years (because I can't afford the style and neighborhoods that I love).

I can afford the closing costs for refinancing.

The payment would increase 100/month over what I'm currently paying - which can be done with some attention to my budget.

Anything I haven't thought about?

Comments

[art1m1s.livejournal.com]

One thing that almost got me on my refinance, was because it was a different mortgage company, they had to do an appraisal value. *drama*headache*drama* My note had to be at a certain appraisal value of the note. House appraisals are being done very conservatively!