I Need Advice

I assume that was a 30year fixed on the refi right?

So you have 15 years left, and are probably right side up (the principle amount of your payment is greater than the interest amount of your payment).

If you are not hurting for money, I would advise that you accelerate the payoff. =Make additional principle only payments and get rid of the debt. You would lose the mortgage interest deduction, but if you are not itemizing it doesn't really matter.

What does matter is that you save on the interest and lower your overall outflow. This in turn frees up a lot of cash.

I re-fied in 2013. 7.5% -> 3.5%. 30yr fixed. I had loads of equity, but lots of CC and other debt. I really needed cash to ditch the CC debt and free up that payment which was mostly interest.

In turn, now that I have more cash, I have made at minimum a double payment on the house every month and will go to quadruple payments next month. It will be paid off in less than 3 years.

So look at your situation carefully and make the decision which best fits your situation.

It's worth looking into. I refinanced from 7.5% to 4.5 then paid the difference in additional principal. The first loan was for 30 years paid off house in 21.

You can save a lot of money in the long run. I went down to 3% interest a couple years ago.

look into it......sometimes, there are no points or fees to pay either. Check with your existing lender first but don't be afraid to shop around.

If you are going to do it, do it soon. I refinanced in 2015, so glad I did! Went from 6.3/4 to 3%. My life is so much better!!!