Like a lot of people right now, I'm considering a refi, the problem I have is I already have it pretty good! Rates are pretty low and competitive and I've been shopping around on credible, but the math is getting a little too complicated for me and I'm wondering if anyone here knows a good comparison tool or is just really good at eyeballing this stuff?

I have three motivations to refi - lower monthly rate, lower total cost over the duration of the loan, remove my parents from the original loan (long story).

My current rate is 3.5 percent on a 30 year loan for $175,000 that I am five years into and now owe $157,000.

The two best rates I've been quoted have been 3% (with $2,692 in points) and 3.125% ($2,167 in points).

It appears that my monthly payment could be lowered by $128 or $105 respectively for a refi loan on the $157,000. I'm not sure how to account for the fact that I'd be paying this loan for 5 more years than my current loan (though it is possible somewhere along the way we just decide to pay it all off, but that is not yet the strategy as we prefer to invest) I can't figure out if it is worth making this move and I'm wondering if anyone can help me think about it more?

-onemorebike