With these kind of rates is it better to do 15-year fixed or 30-yearfixed REFI?

Good afternoon,That is a great question. If you can afford the payment difference, you not only save by the shorter time frame but usually the interest rate is between .375 and .50 lower on the 15 year term. Let me know if you have any further questions. Thank you. Have a blessed day!

The amount of interest you can save on a 15 year mortgage vs. a 30 year is huge. If you can afford it, it's well worth doing. WilliamAcres.com

A 15 year loan has a larger payment of principal each month beacause, obviously you are paying the loan off faster. In addition, the interest rate is lower, meaning even more of your payment is applied to princpal. Depending on your current balance and rate, it is possible that the new 15 year payment may be lower than your current 30 year payment. If you can comfortably afford the higher payment, the interest savings could be HUGE.

It may depend on your goals for the home, keep it to rent, payoff before your retire, need the tax write off, but paying off your home 5 to 15 years sooner make since depending on your goal. The rates are extremely attractive on a 15 year term today, compare the payment between the 30 year and the 15 year and see if the payment is comfortable each month. If you wish to discuss this further, please call me at 909-503-5600, woyld love to go into detail on your long or short term plan for your home.