Current balance: $185,136.17 with 4% interest. What I pay now (not including escrow) is $720 every other week.
I found a 2.75% 15yr with Chase that sounded really good, but I am hearing people say the fees are too high. The fees are $6,816, plus they will add the escrow into it so the new loan amount is $195,900.
Here is what I've calculated: If I don't do anything and keep my current loan, I will pay it off in 14 years. If I get this new loan, I will pay it off in 13 years and 2 months. It might be shorter, since the new payment amount will be slightly lower and I will continue paying what the payment currently is ($720). I think I will save some amount between 11k and 14k, but I'm not sure exactly.
Is a $6,816 fee too high? Should I keep shopping? I've checked with my local credit union and they have a 15yr with 3.85% and no fees. But my current rate is 4% so I didn't think it was the best deal.