[Aftermath]

Hi All and

THANK YOU EVERYONE HERE AT INFINITECREDIT !!!

I have gotten enough of the big "not mines" off of my reports to be approved for refinancing.

I am torn as to whether or not to put the closing costs into the amount of the refi.

The tempting part is to leave my emergency fund undisturbed.

But, I also want the mortgage as low as possible (oh gee, that's unique), having a fixed income that is going nowhere.

Any thoughts on the pro's and con's of financing the closing costs, or any direction to good sources of info for reading, much appreciated.
Aftermath

This site kicks ***!!!

[Loan Doctor]

My suggestion would be to keep the money in an emergency fund if you are disciplined enough to not use it unless it was something REALLY important.

I would suggest that you check your payment options, and I think you will find that there is very little difference in payments if you refinance the closing costs into the loan.

Charles

[Hedwig]

That's probably true.

I agree, you need an emergency fund. Just put it somewhere that it's not too easy to get to, perhaps at least part laddered in CDs.

That way you're not tempted to use it for a new car or vacation or just something you want to buy.

[Aftermath]

Yes those are really good points and the difference would be to add about 20 dollars to the mortgage.
Thanks!


Aftermath

[Hedwig]

For 20 bucks a month, I'd keep the emergency fund. It will cost you much more than that if you have to borrow money for an emergency.