Refinance- Rates under 2.5%

[JSMustachian]

I was hoping the forum could help me determine if I should pursue a refinance.

https://www.rbfcu.org/rates


My current loan:

Originated 6/2014, borrowed $150,100 at 3.5% for 15 years. There is $80,893 left and my payment is $1073. My pay off date should be 03/2027 because I made extra principal payments several years ago to get out of the escrow.

I am seeing rates as low as 2.2-2.4%.

According to nerdwallets refinance savings calculator I could save on my monthly payment and total interest saving with a 10 year fixed at 2.4%. Am I looking at this correctly? Any term longer than 10 years has me paying more interest due to extending the new loan further out. Any thoughts?

https://www.nerdwallet.com/mortgages/refinance-calculator/calculate-refinance-savings

[frugaliknowit]

While this was a few years ago, when I attempted to refinance $95K, there were not many lenders interested in doing a refinance for under $100K.  Many have minimums.  Some would do it, but at a higher rate (Chase, for example, at that time).