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I recently bought a house June 2008. I have over 900 credit rating and no other debt. My income is 51k as a resident physician. My mortgage is 30yr fixed at 6.25% and I paid down 2 points. Mortgage is currently 288k on purchase price of 324k. Location is Gainesville Florida built in 2004.All I want is a little more money on the monthly paycheck that I can keep. First, is it worth refinancing?Second, when you refinance does that mean the entire loan amount is covered.....or in other words, I can get a new loan for the amount of my mortgage and not the reduced value of the home?Thank-you for any information.
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