Is it worth it to refinance for $100k mortgage? Current interest rate is 3.875%, one year into a 30 year mortgage

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Call your lender and ask. A lot of mortgage lenders are really big on getting existing customers to refi and they will usually waive a lot of the closing costs

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Your mortgage balance one year into a 30 year is $100k? Or you’re going to take on two mortgages and just refi part of it?

I’d check your loan terms. Usually prepayment has penalties in first couple years.

Gotcha. I’d recommend taking a look at loan origination / closing costs, net of your reduced interest expense.

For such a low value loan, closing costs may offset whatever savings you generate.

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