Re-fi mortgage with plans to move out soon(ish)?

ddelo23

we have a 6.75 rate right now with Chase - obviously, I would like to re-fi (today is looking pretty darn good actually!)  But we plan on painting, getting whatever the contractor didn't finish, fixed, and then putting it on the market.  Is there a downside to re-fi'ing and then selling within months (assuming someone even wants our house) later?

I'm a dummy when it comes to this stuff..

50ftqueenie

The only downside I can see is closing costs. I'm not a mortgage expert but if you can get a refi with no closing or administrative costs, it would probably make sense to try. If you have to shell anything out, I wouldn't bother.

kmslwsmrs

If the closing costs are more than you'd save in the amount of time you want to move (say by refinancing you'd save $400/month, but closing costs are $4000, it would take 10 months to make that $4000 back), then it's not worth it. 

ddelo23

I think that since I would stay with Chase (the guy has been hounding me and I've been ignoring him) that they waive most, if not all fees.  I just put a call in to him and appologized for not answering him back for a MONTH ahha..

thanks!