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If you plan to stay in your home for years, it may make sense to keep your current mortgage. While your monthly payment will from a current payment of to a refinanced payment of , you will end up owing after years, not to mention the additional refinancing costs of . It may make sense to refinance if you plan to be in your current home for years. While you're monthly payment will from a current payment of to a refinanced payment of , you will owe after years and will have paid more in payments over that time. Make sure to check with a professional on how refinancing can affect your taxes.