All the costs will add about 4% to your loan, and add years to the other end. If you will likely sell the house eventually, and this will lower your costs, its a pretty good idea. Calculate if your payments will come down. If they won’t, its only a good thing for Countrywide. addthis_url = [...]

I know rates have just dropped from the Feds rate cut, is there a chance there will be more cuts and I could do better by waiting? I have very good credit and currently have a 30 year fixed at 6.5% 6.5% is not bad. I don’t think you’ll get a 1% improvement over that, [...]

I would end up paying more when the term is longer (10-15 years) even though the rates are 2% higher and I would continue current payment plan. If you are done in 5 years, just keep making the payments. You are basically just paying the principle now. To get a new mortgage, you will pay [...]