Quote:
Originally Posted by John41
We looked into refinancing but would have to pay $4000 in closing costs plus all the paperwork. Decided to pass it up.
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Shop around with lenders not just for the new interest rate but also for closing costs. Also, some lenders let you roll the closing costs into the new mortgage, so you have no out-of-pocket costs. This plan of course means your new mortgage is a little higher than your old one, but with the extremely low rates available now, it’s still easily worth it to refinance with costs rolled in. Have a couple lenders run numbers for you.