re: Anybody refinancing today?

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Our lender contacted us this week offering a refi from our current 4.5% to 3.375% with ~$4,000 in closing costs to be rolled into the new loan amount, nothing to pay "out of pocket" and that we'd "skip" March and April's loan payments.

We purchased in 2018 so only two years into the current 30-year mortgage.

25-year refi is ~$185/mo. less than current note.

30-year refi is ~$390/mo. less than current note.

We'll probably be in current house another 5-8 years then upgrade.

Seems either refi is better than where we are now, but what do y'all think based on above?

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Your break even point is 21.62 months on the 25 year and 10.26 months on the 30 year using the numbers you provided. I would say that if you are going to be in the house another 5-8 years you are in the green.