Refinance both mortgages to save money

[Nick H.]

Hello All - Newish member here to the forums. Looking for some advice on, at the very least, saving some money to help get started in REI. The wife and I have 2 mortgages currently on our townhome, and I'm wondering if it makes sense to refinance both of them into 1, to save us some money in the long run (or if it's just smart anyway). Here's what I'm looking at:

1st Mortgage Details:

* Current Balance: $109,550
* Int Rate: 5.25%
* Payment: $873.88 (

2nd Mortgage Details:
* Current Balance: $44,243
* Int Rate: 5.750%
* Payment: $396.11

[Nick H.]

@Tim Swierczek PM sent your way. @John Woodrich thanks for the suggestion.