Should I refinance?So currently I have a mortgage with Wells Fargo, $1727/month, been in home for 2 years,interest rate of 4.875% FHA. I pay $105 a month in MIP. I contacted lenders about refinance since I heard the rates had dropped. The only one that sound somewhat reasonable is the one I have a question on.They would be able to convert me to a conventional loan thus elimination MIP, 25 year term, mortgage of $1648/month. The interest rate would be 4.125% and there would be a cost to pay the MIP upfront of $6500 but I would get a "credit" of $4300 due to the higher interest rate (4.125% vs. 3.875%) therefore $2200 would be the cost, which they have rolled into the mortgage. My only out of pocket cost would be appraisal fee of $425. Would you refinance??????May 25 2012 - La Vergne00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.