Currently in a 15/25 loan with 12 years to go at 4.9% (have to pay off or refi at 15 years...amortized over 25 years). Can refi for 20 years fixed at 3.(forgot the exact percentage) and lower my payment $50 a month. This is even with adding the closing cost to the principle. Yes I'm paying about 4k for the process but if the overall payment is lower it should be worth it. Is this sound judgement or am I missing something?