Refinancing means replacing the existing mortgage with another at a lower interest rate.

So if your mortgage refinance loan exceeds this, you will need a jumbo mortgage.

Distance between you and the drivers ahead and behind should give you some leeway.

If your current mortgage is a mortgage with a variable rate, then it is wise after several years (maybe five or six) to find a mortgage with a longer competitive fixed rate.
If you are adept in many varieties, use a notepad to calculate the choice that gives you the greatest number of points to your advantage.
The new rates will be offered a fixed rate of 5.25% with 30 years of interest.