exNavyOffRec
Well-Known Member
When you refinance things are usually a lot easier since you aren't buying a house all over again. With rates so low many banks have made it even easier since so many people are refinancing nowadays.
As for the full point, do the math and see for yourself. I refinanced for less than a point reduction and it was worth it to me, it will cost me almost exactly the same over the long term but lowered my monthly payment by more than 10%. So run the numbers a couple of times and see if it is worth it to you.
I refinanced to cut my rate and term so my payments are just a hair lower but I knocked 6 years off the loan.