To Cash out refinance rental SFR to reduce duplex payment or not?

[Afia Amponsah]

I currently own a 2-bedroom townhouse in Clifton Heights, Delaware county pa. I have no mortgage on it. I also own a duplex in philadelphia that I bought in November 2020, current balance $296,500 that I live in with a monthly total payment of $1856 including tax and all. Interest rate on duplex is 3.0% FHA. I put down 5% when I got it I live in the 2nd floor 3-bedroom unit of the duplex. And the first floor 2-bedroom unit is rented out at $1,000 a month. If I moved out,the 3-bedroom I am in would rent for about$1200. I want to lower my monthly payment on the duplex. So I wanted to pull cash out of the townhouse to refinance the duplex to lower the monthly payment.

I spoke to a lender and was told I would have to do a comment mortgage on the townhouse at 15yrs at 4.4% with a monthly payment of a little over $800.

and after refinance, my duplex rate would be about $1500. Tax on the duplex is about$3000.

If you were in my shoes, would you do it,or what do you think I should be doing? Any ideas or suggestions on a better lender or what to do would be appreciated!