Refinancing Mortgage, length?

Question by J B: Refinancing Mortgage, length?
I am 10 years into a 30 year mortgage, ie, I have 20 years to go to have it paid off.

If i refinance, does the new load i get have to be either 30 years, or 15 years???? Can i have it set up so that i still finish paying off my house 20 years from now?

Best answer:

Answer by bud68
If you refi, your term starts anew – it can be 15 year, 20 year, whatever the lender offers. The old loan term has nothing to do with it.

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