Get all the details and compare carefully before making a decision.
FYI - I am in the RE profession, so we get this ? a lot. As stated by the lending professionals we deal closely with - it is generally not beneficial until the rate drops two (or more) points below what you are currently financed out - to average the difference of costs of 're-fi' into the equation - and to make it worthwhile for you. FYI - as an aside - we are in a similar situation - lived here 3 years, financed @ 6.725 - You don't have a bad rate, and it'll be hard to refinance low enough to make it worth your while. Maybe you wish to consider prepayments on your principal - which will significantly decrease the amount of interest paid on your loan. You can do a search for a mortgage amoritization calculator, (there are many available online) - and this will allow you to see your interest savings in details, varied by the xtra principal you choose to pay.
Hope this helps!
70's Cone Preway Freestanding Fireplace
Stained rough barnwood family room. Not tong and groove
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