With interest rates being so low, we refinanced again (we’ve only lived here 18 months).
We used Ally Bank to refinance and was able to lock in an interest rate of 2.375% for a 15 year!
The savings from the previous 15 year loan at 3.5% will be more than $35,000.
Dang. I have seriously been thinking about this but balancing it with the idea of paying extra per month to knock out a lot of the interest without having to pay for a refinance. 🤔
We rolled some of the closing costs into mortgage, so we didn’t need too much cash to refi. It added a bit of principal to the mortgage, but I think it was worth it.