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Moneywise

Dave Ramsey says: There is no real downside to refinancing your home often

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  • PGVikingDad Pleasant Grove, UT
    June 26, 2013 2:13 p.m.

    There is one drawback: If you constantly refinance to a longer-term mortgage (say you have 28 years on a 30, and refinance back to 30), you'll never get to the finish line. This one's easy to sidestep, however. Just make sure the years left on the new note are equal to or less than the note before the refi. In many cases, you may wind up with both a lower rate *and* a shorter term.