I need to refinance within the next year, and the current rates are pretty good, so I'm looking around now. I got a good faith estimate that: 1. Rolls most of the re-fi closing costs into the loan, for which I give up 3.7% equity in my house. Out of pocket costs is around $125. 2. Reduces my interest rate by 1.125% (zero points on loan origination and discount for a 6.5% rate @ 20 years) 3. Reduces my payback by 4 years (I'm 6 years into my current 30 year 7/23 balloon loan, now going into a 20 year loan). 4. Gets rid of PMI on the loan. 5. Reduces my monthly payment by roughly $70. Should I do this re-fi?