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I hope this is the right board.

I am looking at refinancing since the interest is less than my current interest (6.125%). How do I go about calculating if this makes sense or not in terms of the dollar impact, given that there are possibly "closing costs" and appraisal fees, etc. Best I can figure, these average to about $4000.

I feel there must be an easy way to figure this out but it eludes me.

(I have about $125K in equity so I know I qualify but I'm not taking money out, just wanting to lower the monthly payment.)
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