Refinance Vs Home Equity Loan

I have a mortgage balance of $ 75,000 to repay, 8 years remaining.
Would it be reasonable to take a loan of 15 year Home Equity to repay and reduce my monthly payments? My other option is to refinance at 15 years from APR current 6% to 5% APR, with a cost of $ 2,500 closing

You are on the final straight, you just pay principle now. A refinancing of any kind has no meaning ... Unless you need to do a refi to make lower monthly payment. If this is the case, just bite the bullet and get the best deal possible. You can even get a look at 30 years and just know you plan to repay within 10 or 15 years on your own. Get all your options.

Jill
jt@firstmmc.com