Duplex Refinance Terms

[Kevin Noell]

I am curious what anyone else doing a similar refinance is seeing as far as terms. We are refinancing a duplex in Austin that has both sides rented, totaling $2650/mo. Our credit is slightly above 800. Current mortgage is 220k at 4.75% (monthly PITI is $1700).

I am looking at the 20 year fixed mortgage which would come out to ~$90 more per month.  Here is the breakdown: 

Would anyone mind sharing their thoughts on these figures?  I'm excited the be able to pay close to the same amount/mo with a 20 year fixed loan.  However, hopefully I'm not overlooking something.  We plan to keep the duplex for a long time.  Thanks in advance.

Thanks,
Kevin

[Kevin Noell]

Thanks for the feedback @Bryan Noth. You actually touched on a point I didn't mention but have been seriously considering as well, which is the 30 year fixed mortgage. That would come out to maybe $250 to $275 less than the current mortgage. It's a great problem to have! This was my original intent (to just lower the PITI) but when I started exploring the other loan options, having this thing paid off sooner does sound appealing. At the end of the day I do intend to continue investing in RE, so maybe the delta in cash flow when choosing the 30 year might win me over...