REFI done!

We closed on our refinance today!! We have locked in a great rate and gone from a 30 year fixed loan to a 25 year fixed loan and in the process knocked off a year from our mortgage (we were 4 years into the 30 year mortgage). We also paid down our mortgage balance so we now have 30% equity.

We have gone back and forth on what to do with the extra cash available each month from our reduced mortgage payment. I want to throw the extra money at the mortgage, just keep paying the same payment, and Mr. Sam wants to throw the extra money toward our emergency fund until we replenish it (we took a chunk out during the REFI).