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Good idea to refi as an empty nester

Considering downsizing. Should refinance into a 15 or 20 yr loan now or wait until my wife retires in 3 years? by ewaters768 from Sparks, Nevada. Feb 18th 2021 Reply


Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,236 contributions

If you are considering downsizing, refinancing now may not make sense, depending on your timing and your current rate. It usually does not payback the cost of a refinance if you sell too quickly. So, let's try and look at the options with the limited info you provided. Generally, income is higher when one is still working. Therefor refinancing now while your income is higher and rates are still comparatively low probably makes better sense than in three years when you income is lower and who knows where rates will be. The larger your loan amount and the bigger the difference between your current rate and your new rate the more it makes sense to refinance. Refinancing now while your wife is working will likely prove to be more cost effective. With more details I could provide you with a much better answer, please reach out. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in AZ, CA, GA, IL, OR & WA... In fact, NEXA is licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ www.ApplyYes.com 480-889-9000.

Feb 18th 2021
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