Quote:
Originally Posted by penchief
I just closed on a refi today. I had a little under 18 years left on my current mortgage. I bought the house in 2018 and wanted to make some major upgrades by adding a central air system, and basement heating and dehumidification. So I borrowed an additional $20,000 at a refi rate of 2.625%.
Even though I added two years and $20,000 to my current note, my payment went down $20 a month, I saved $7,800 on the total payoff, and it paid for all the work I had done to the house. For me, it was a no-brainer.
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Adding central air is no joke. What part of the country are you in where you didn’t have that in that in the first place? How did the addition work?