re: Refinance gurus- I'm looking to refinance my mortgage- will it be worth it?

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People seem to think that you should cut your rate to 0 and prepay to get there.

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Foshizzle - I appreciate the the effort that goes into you guys min/max formulas and this much over this time, etc., but it is not cut and dried.

A. You never consider that the person invests the mortgage payment at full value once the mortgage is paid off.

B. Y'all value housing at $0 and only view a positive in either profit on sale or equity you can tap into.

You can certainly make your case for 30 over 15, but it does NOT change the fact that the 30 year is significantly more expensive than the 15 year. You'll have to recoup that difference on the edges of the inflation rate - UNDER IDEAL CIRCUMSTANCES.

My way - paying it off as soon as possible is simple - you cannot lose money on interest you don't pay on money you don't borrow. I don't care how cheap money is (and it has never been cheaper - I'll grant you) - the difference isn't as cut and dried. The min/maxers are making money, but it is literally pennies on the dollar of what you think it is.