Congrats...pay it off. I was in a similar like situation as you a few years back and got the same silly advice just prior to me paying off my house in 6 years. Now my Mom lives in it to take care of it and doesn't have to worry about mortgage, rent and such while I live in another country. Instead, of refinancing...I took the money and purchased a duplex and will be in the position to pay that off by year's end. Amazingly, a different financial planner recommended the same concept of refinancing for my second home as the one in the states. By the way, not sure where you live at, there's home insurance that will pay off your home in case of death or serious illness (stroke) so that your love ones still living there will not be burden with debts. Look around and check into that. All this debt stuff is crazy and scary.