Primary Home Refinance using IRRRL

[David Cornett]

Given some basic numbers - is refinance recommended?

Original loan terms

30 years at 4.625%

Loan is 12 months old at this point

Refinance at 3.625%

Total cost to refinance is $6500

Currently a primary residence, but intent is to turn into rental in next 3 years.

[Scott Jensen]

@David Cornett if there's no fees or closing costs I would take a 100 year loan at 3.125%. Obviously I don't know your situation, so I cannot provide specific advice, but this is as close to a free lunch as you get.