🏠 📊 When does refinancing a mortgage make sense to decrease interest payments?
🏠 📊 When does refinancing a mortgage make sense to decrease interest payments?
When does it make sense to refinance a mortgage. My goal is decrease my interest payment (I'm fine if the monthly principal payment increases). I would also like to weigh this against what would happen if instead of paying more for the monthly payments, I put that money into an index fund (we can use VTI as an example). Taking refinance closing costs into account would be nice too so I could see at what point the payoff would happen.
When does it make sense to refinance a mortgage. My goal is decrease my interest payment (I'm fine if the monthly principal payment increases). I would also like to weigh this against what would happen if instead of paying more for the monthly payments, I put that money into an index fund (we can use VTI as an example). Taking refinance closing costs into account would be nice too so I could see at what point the payoff would happen.
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