Extra principal payments vs refinancing.My existing mortgage: 5.875%, 23.5 years remaining of a 30 yr fixed loan. The remaining amt: 205k. Would it be better to refinance at 4.875 for 20 yr fixed or make additional principal payments/mos on my existing mortgage.February 16 2009 - Charlotte11YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.