Balance on my mortgage is $61,365.00

Hello,A refinance has some fixed costs like underwriting, escrow, title, appraisal, etcetera that you would likely not overcome or recoup in just 2 years, on what is a fairly small mortgage. That smaller loan will likely not generate enough potential Lender Credit to overcome the costs either. Congrats on almost paying off your mortgage! Dan Marchiando, Mortgage Loan Officer, Paragon Mortgage Group

No, it really doesn't make sense. Even if you were to drop your note rate 2.00%, you would only save about the same as you would spend for the refinance. But with a loan so small, most lenders are going to hit you with pricing adjustments so that is likely you would not even be able to break even. With you plans to pay off so close, I'd just keep making the payments until you actually do pay it off. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We've got you covered. NEXA Mortgage is licensed in 46 states ~ www.ApplyYes.com 480-889-9000.