What are some other options, Do you think refinancing my current home mortgage and putting it under my wife’s name would be a good idea?

Secondly, if you plan on not selling the house, and just refinancing it, do you qualify for a refinance?

@Nick Causa I can't see how refinancing twice in that short of a time period would be a good idea.

I'm not interested in renting it out or refinancing.

I plan to pay off the loans in about 10-15 years and will be refinancing with a private lender once I'm done with residency to cut the total cost down as much as possible.

I will run my calculations from purchase price with equity and cost of refinancing to achieve a positive cash flow.

We refinanced our house to increase cash flow, and that will close on July 2nd. 

Or is this more accurate: (or do I soul have this wrong)He used 52000 from a private loan, but paid 2K in closing then refinanced to get rid of that private loan and is now on a conventional loan.Why did we assume 5.5 percent?

It can also give you some time to build up more capital and you can plan for a balloon payment in 5-10 years where you'd be refinancing with a bank via a conventional loan.

He has refinanced it once about 10 years ago maybe.