Refinance or Not

[Jaquon Miller]

Purchased a $535k duplex at 7.125% & have the opportunity to refinance to $548k at 5.75%. Payment is $450 cheaper ($4400 PITI v $3990 PITI).

This is a house hack where the tenant is paying $2100 in Y1 with rent scheduled to increase to $2200.

This HH is on a VA loan and I'd like to refi into a conventional loan eventually to reuse my benefits. What would you do or consider?

Edit: Am also getting back an 8k escrow refund. A new escrow is being created at 9k at closing (I don’t understand why but it is happened).