what does it mean to refinance a mortgage? list and explain at least two conditions where refinancing might be beneficial to the borrower. Additionally, calculcte your new monthly mortgage payment if you refinance your first mortgage with fro 15 years at a 5.1% annual interest rate. You originally purchased the home for $325,000 15 years ago and paid 20% down with a 30-uear fixed rate mortgage with an annual interest rate of 5.75%