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This is a dumbed down math, but if you PITI is $126 higher but you're getting $16,626 more, it would take a long time until you break even and you'd probably be refinanced by then.

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Check out other online guides available here: https://www.biggerpockets.com/guides3.

Check out other online guides available here: https://www.biggerpockets.com/guides3.

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It seems to break even on my calculator at that point, but seems risky to have to cover the refinanced mortgage. 

. - I'm quite familiar with that area of Huntsville, and just took a look at your listing online. 

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Most likely when you apply for HELOC, your lender will pay for all costs, and you will not incur any out of pocket costs.If you want to do a "Cash-Out Refinancing", I think this is when you have to really plan things.