re: 15yr Mortgage... Where to begin?

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If you are at 7.5% right now that is pretty high. Just go with a 30-year and pay it each month like it is a 15-year. The difference in interest won't be that much, but you will have flexibility in case an issue with your income or expenses pops up any time in the next 15 years.

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30 yr yesterday was 4.75%. On such a small refi, i'd lean more towards the 15yr at the moment.

I do think 30 year moves down closer to 4-4.25, but I believe sub 4 days for conventional may have gone way of the dinosaur.

With new lending laws the 1099'ers need to learn not to write everything off if they are considering home loan/refi