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-130% Mortgage 4.875% fixed 30yr

Lets say your loan is for $250,000

Your monthly payment is $1,323

Now lets say you refinance to a 15 year fixed loan at 3.96% (the current rate)

Your monthly payment is $1,844

You pay $500 more a month but shave off half the life of the loan.

Something to think about. That is what I did and my loan is now gone :)
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