<prompt> Human: I bought my home in 2012 for 165,000. I currently owe 147k. Based on comparable sales on my street, the house is currently worth 225,000. Im not sure how, but Ive been getting a lot of mailers and cold calls for refinancing.Payment: 980PMI: 77Rate: 3.5A 30 year loan for 150k balance refi fees is currently priced at 4.0, and a payment of about 700. Plus my insurance and taxes, this is still a 900month payment. The payoff period is basically immediate isnt it?: Save 80mo on payments to get rid of 77month PMI. Is this a good deal?  <response>: A 30 year loan for 150k balance refi fees is currently priced at 4.0, and a payment of about 700. Plus my insurance and taxes, this is still a 900month payment.What are the 15 year rates? Theyre generally lower, so you might be able to improve your rate, not lose your time value in the home, ditch the PMI and get a way better principleinterest split.edit: forget about how much you pay a month. Its all about how much goes to principle and how much goes to someone else, and whether or not you can afford it. Focus on that. 