Mortgage question…?

Should I refinance a 6.357% 30 year fixed mortgage of 285,000 to lower my rate to 5.7% fixed for 30 years? I had some escrow shortage and this refinance would cover that issue and lower my monthly payment by $ 300. I have been paying this mortgage for 4 years now and next year it is projected that all my payments will go more towards the principal than the interest. Another thing is that refinancing would bring me back to 296,000 and start all over again. Is it worth it? Someone please help with your expertise.
The original loan was $ 302,000 @ 6.375% and principal and interest payment of loan alone is 1,884.72
Property was appraised weeks ago for $ 525,000

Register New Account
Reset Password