Share your insights or perspective on the financial matter presented in the input.

How do I know if refinance is beneficial enough to me?
The proper answer is that you run the numbers and see whether what you'll save in interest exceeds the closing costs by enough to be interesting.  Most lenders these days have calculations that can help with this on their websites and/or would be glad to help if asked. Rule of thumb: if you can reduce interest rate by 1% or more it's worth investing.