Is there a such thing as a Partial Refinance?

If you refinance to a 30 year term this is exactly what would happen, but it may not be the best move to make and you should really discuss this with someone that can show you how much it wold cost you long term to do so. There may be better options than to add an additional 16 years to your mortgage. Get all the details and run the numbers to make SURE this is what you want to do. Gregorio Denny -- WeFixRates.Com --

You'll need at least a 620 FICO, soon to be 640 to refinance. Generally, with that much amortization, this would not be a good idea. But, if it means making the payment or not making the payment, it may be right for you. .... Happy funding, Rudi