So with rates low I looked into refinancing my primary residence. Talking with the lender it looks like it'll be roughly $2,785 in closing costs, as a result of the improved rate, I would save about ~$190 on my mortgage. That would leave the payback period at about 14-15 months. Seems like a no brainer if we were going to stay here long term. The issue is, my company is looking to transfer me mid-summer putting us moving prior to the payback period, thus making the refinance not logical. Very simply I think it is an easy decision, and not do it. But, I wanted to reach out to everyone here to see if I am missing something. Yes of course, there could be an issue with the move but ultimately, it will be happening. What are everyones thoughts?
Thanks!
