Bought a house 6 months ago, grandparent died and left me a nice inheritance. Should I refinance?

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Rates have gone up; so I’d just stay where you are.


I read your post and first think I thought…was oh man. He put it towards his house and now people are going to tell him he shouldn’t have done that in this sub. Dude..don’t refinance. Interest rates are higher right now. Paying for your house early will give you piece of mind. You did what you thought was best at the time. Don’t let anyone bring you down. I paid off my house early when I had the chance and it is so nice not to have a mortgage payment. No regrets. It may not have been the BEST use of the money financially speaking, but mentally it was


Why refinance? You obviously can afford the payments and you have a great rate. I personally wouldn’t have dumped 150k into my mortgage at 2.6%. Since you did, I would focus on paying it off.


According to a mortgage payoff calculator, you just saved 17 years and 4 months of payments by dumping 150k onto your mortgage. That equals ~105k saved in interest. Would I have paid off the house with the inheritance? No, but those numbers should make you happy. Who cares what I, or anyone else thinks about your decision. I bet you’re grandfather would be proud. I’m sorry for your loss. I wouldn’t refinance. Now you’ll be mortgage free by May 2034


You are not going to get anywhere close to that interest rate, so I wouldn’t refinance. In fact, I wouldn’t have put it all towards the mortgage. Youo would have earneed more than 2.6% had youo invested it.