Should I refinance my mortgage? 7 years ago

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Here I show you the correct way to calculate the benefits from refinancing a mortgage. It is NOT how much you payment will go down! You also have to look at the increase in the amount going toward principal. The calculations I show are a bit simplified compared to the EXACT method of calculating things, but I did it this way to make it ore accessible. If you would like a more detailed treatment, just let me know!