You can consider refinancing, but it will mean higher out of pocket costs

The break-even point is 6 years 1 months. You will lose money if you refinance and keep your loan for less time than this. You will save money if you refinance and keep your loan longer than this.

Total savings: −$917.36
5 years 0 months
Refinance comparison at 5 years 0 months
Comparison at 5 years 0 monthsCurrent loanNew loanSavings
Monthly amount (gross before taxes)$2,899.80$2,210.48$689.32
Total interest payment (net after taxes)$57,326.93$57,704.21−$377.28
Cost of refinance (net after taxes)$0.00$3,600.00−$3,600.00
Investment opportunity cost (net after taxes)$13,746.40$10,686.48$3,059.92
Total$71,073.32$71,990.68−$917.36