Recast vs Refinance

Pay a lump sum and recast (same rate, lower balance) vs refinance (new rate, new term). Which one wins?

Current balance ($)

Current rate (%/yr)

Years remaining

Lump sum to pay down ($)

Refi new rate (%/yr)

Refi closing costs ($)

Refi new term (years)

Recast payment

—

same rate, lower balance

Refi payment

—

new rate + closing costs