Can and should I refinance after only being in my home for 2 yr?

The most important decision is the break even point. How long will it take you to recover the closing costs, vs. your monthly savings. Example, if you save 150 a month on the refi, but your closing costs are 5k, it will take 33 months to recover. So 3 years later, you would have recovered your outlayed closing costs, and you would actually be saving the $150 a month. If you are not sure if you will still be living in this property by the break even point, then you may want to just stay where you are at. If you plan on retiring in the home, then it would make sense, as long as you do recover your expenses. Good luck!

Josh that is a very loaded question: I would suggest getting with a trusted mortgage consultant to do an indepth analysis of what beneits would be available for refinancing. I can throw numbers at you all day long but if you want figures that apply to you then you need to get with someone you trust!

Hi Josh: Gianni above is quite knowledgeable in his field and made a significant point.......Another suggestion is to do a no closing cost loan refinance for you. What is your current rate?? ...loan amt..value etc..Mike

depends on the rate you have and your long and short term financial goals..... even if you plan to move in a year or two if the loan is structured correctly so that your balance is lower then than it would have already been then its a no brainer.... best bet is to work up some programs and see what will be in your best interest to do. if you would like a no obligation work up i would be happy to help, and if it doesnt make sense ill be the first to tell you that as well. thanks john