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Message: [QUOTE="Tenspro2002, post: 3628521, member: 889"] Personal finance experts of the BY: is it worthwhile to refinance a mortgage that I just took out last year? I'm paying 4% interest on a 30-year mortgage right now, but could potentially refi down to 3% (also 30 years) and reduce the monthly payment by $200. Depending on how long I take to pay it off, I could save somewhere in the ballpark of 25K in interest over about 20 years. Mortgage interest tax deduction isn't likely to be a factor. Closing costs would be 5K. FWIW, turning 5K into 25K over 20 years is equivalent to a 9% annual return, which seems pretty good. Should I go for it? Anything seem out of line? TIA. [/QUOTE]