We have 13.5 years left on a mortgage 15 years host of interest of 5.25%. We have over 20% of the value of the house. We in this house for 30 years selling live and move to a bigger house in 3-8 years (depending on how many children we acquire). Since we are not a lot of time before we sell have planned, and now we know our money in retirement, and alternatives to tuition fees for postgraduate courses for my husband not, we pay to refinance. We have already paid up to $ 800 dollars to rid our interest if we dropped our prices by one percent interest rate locked in fall 2008.

I’ve heard it’s something where we could get a rate slightly higher than the market, but still below what we pay no closing costs. If they exist, or are they a scam? We with our mortgage and all are satisfied, but if we could get an even lower rate without having to invest something, I do not see a disadvantage.

Is that really exists? What is below? We have an excellent credit.

Yes, they exist. I do not think I could at a bank or a loan program point, but I have in the last year or two seen advertised. The disadvantage is that you pay the higher interest rate for the life of the loan, you pay the cost prior to the closure. What ultimately cost you much more – although the difference a month can hardly noticeable unless you have a mortgage considerably.

If you find it, and if it sounds better than what you pay now, I see no reason not to go.

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