We're 5.5 years into our original 30 year mortgage, and even if we move, we would likely keep the property as a rental as it is in a very desirable area, the one downside is high property taxes ($7300/yr.)
I hadn't thought of other loan vehicles, I'll look into other possibilities as well. One car is paid for, the other has 1 year on a 0% loan left to pay off. There isn't any other debt. It's really a question of using cash available that would otherwise go into investments or leverage the equity at a very low rate to absorb the expense. Looking at the numbers, we'll refinance regardless, now it's just a question of the current loan payoff or adding in the repair expense.
The rate is 2.61 APR (all in) that was a surprising number, so we're moving on that pretty quickly.