compare current mortagage costs to new mortagage costs

I am trying to figure out if I should keep my current mortagage at 5% and a
balance of 400000.00 or refinance and pull the equity out of it and have a
new mortagage of 650000.00? Trying to compare my current costs to the new
costs like the tax rate etc.
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System--> Microsoft Windows XP Pro ver. 2002 <> Service Pack 2 <> AMD Athlon
<> XP 2500+ 1.84 GHz <> 1.50 GB RAM <> My appreciation for anyone kind enough
to help me will be passed on to others =OP

use excel to calculate year by year interest and capital repayments. Factor in inflation at 2, 3, and 5%.

repeat with new amount borrowed and new term.

compare interest paid etc

guess the capital appreciation on your property

in the UK it is 10% per year

figure out how to cash in on the vast profits made - only possible if you live in an "expensive" area and sell up and move to a "cheap" area.

I did this 37 years ago on an IBM 1170 mainframe when your program was handwritten and transcribed onto green paper tape, and run when your slot came up, we took it in turns. Inevitably, there was an error in the program and you had to figure out where it was and correct it, and wait for another slot. Inevitably there was another error in the programme.........