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Your mortgage has 20 years remaining, with $1600 monthly payments, and $206,368 in remaining principal. If you refinance with a new 30-year mortgage, the payments
Your mortgage has 20 years remaining, with $1600 monthly payments, and $206,368 in remaining principal. If you refinance with a new 30-year mortgage, the payments will be $1514, so you will save $86 per month. Closing costs are $2000. If you expect to keep living in the house for around 4 years, then should you refinance? Yes, you should No, you shouldn't
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