I would like to second aj485's post. She is absolutely correct -- costs for refinancing are significant (in the thousands), and your lower rent over even 6 months or more would be unlikely to fully compensate you. Even if you could reduce your interest rate by 2%, that's just 1/6 of 1% of your home's cost per month, which means it would take 6 months for you to pay $2000 extra interest. Closing costs of $2000 would seem somewhat low to me. Caveat being that I don't even own a house and have no experience with this sort of thing. But the math does seem to indicate that IF you plan to sell in the next 6 months, it is a bad idea to refinance.
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