Should I Refi?

[Lance H.]

Hey Everyone,

Debating whether I should refi my primary residence again or not. I am not looking to take money out or anything and the current payment is easily affordable for me, I just don't like paying more to the bank than I have to!

I was at 6.75% until Sept 09 when I refi'd down to 5.25%. The new loan would be for around 161k. I can now get 4% paying 0.5% origination and no discount points. I am only planning to live in the home another 1-2 yrs, but I'm underwater (va loan so refi still possible) so I plan to rent it out when I move. It's not good as a rental, will go for ~1050/month so I'm thinking with this refi it would be $100 less I need to come out of pocket for each month.

Sorry for the long post, advice is appreciated!

Lance