[quote=ucodegen][quote=flu]For example, if refinancing puts $20000 cash in your wallet via rebate today but adds $24000 additional interest over the life of your loan (30 years)…It still might be worth it since the $20k today most likely will be worth a hell of a lot more than $24000 spread over 30 years (with the ever inflating dollar)… It would be your call…whether you value having $20k now ,or rather save $24k over 30 years.[/quote]I would avoid the cash out/cash back refi. It allows the finance companies to bump the interest rate up by about 0.5%. There was a copy of the rate sheet for Countrywide out somewhere. I don’t have time to look for it right now.[/quote]

I think there is a difference between cash-out versus just asking for an interest rate that’s higher than prevailing.

For example, if the current interest rate is 3.375, you ask for 3.5..The lender will rebate you -X points because you took out a higher interest rate…