When Does Mortgage Refinancing Makes Sense – Chase or Bank of America? - goatfinja
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AnimalMuppet
What does "Chase or Bank of America" have to do with anything? There are
probably _hundreds_ of other options.

So: When does it make sense to refinance? I am not a financial advisor. But I
will ask a question: What is your criterion for "worth it"?

Do you care about monthly payments? Total cost? Total inflation-adjusted cost?
Length of time to pay it off? For whichever parts matter to you, run the
numbers on refinancing vs not refinancing, and decide.

Then, with whom? Some local lender? A big bank? Box? Homie? I have no idea how
to answer that question. Look into a couple of lenders from each category, and
compare what matters to you.

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uberman
One way to measure would be to test if the net present value of the reduced
interest (after taxes) is more than the closing costs. Assuming your closing
costs are after tax

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AnimalMuppet
To answer that question, you're going to have to project how long you're going
to continue to own the house...

