Ask Terry Questions Mortgage refi to 10 year loan?

Mortgage refi to 10 year loan?

By Terry Savage on May 19, 2019 | Housing / Real Estate

Hi Terry.
You and Steve B.made mention of falling mortgage rates. We are currently at 4.125 15 yr(2018) with $78k balance and home value of $125k. With MB
FINANCIAL. WOuld it make sense to refi to a 10-yr at 3.625 (at MB)?


Terry Says

If you’re trying to get your home paid off as soon as possible — or before you retire — and can afford the higher monthly payment, then definitely refi to this 10-year, lower-rate deal!  It’s great to go into retirement with a fully paid off home — and you’ll save a pile of interest along the way!



a personal
finance question