Should I IRRRL Refi my VA loan?

[Kevin Phu]

I have had my SFR for about a year now. I am house hacking it (renting out two of the bed rooms). With that additional rent income, my overall out of pocket living expenses are less that what I was paying for just apartment rent. My VA loan is with a 3.625% rate right now. Would it make since to look into an IRRRL refi into a 5/1 ARM to further lower my expenses and with the exit strategy of selling the property close after a few years to reuse my VA loan for a bigger property (MFR)?

[Chris Mason]

No, throw the junk mail in the trash where it belongs. 3.625% on a 30YF is great by today's standards. 

Now that rates are up and no one is refinancing, the call center refi jockeys are getting desperate to stay in business. They are proposing more and more outlandish things that make less and less sense -- I'm personally in a VA loan, so I get the junk mail and spam phone calls too (I only screw with them about 25% of the time :P ).