Just closed on our refi on Friday. Bought our house a year ago with 5% down and after a year of appreciation and some improvements we were able to appraise high enough to get out from under the PMI (266/mo!) and go from 4.5% to 4.25% - so saving about 310/mo. Could have gotten a slightly lower rate but opted for more lender credit towards closing costs so we didn't have to pay anything out of pocket. As an added bonus we wont have to make another mortgage payment until December. Net effect of all of this is that our PITI is less than what we were paying in rent for our apartment a year ago (and we were getting a sweet deal on the apartment). ALSO, the downstairs of our house is a 1400sf 2br apartment with separate entrance that we rent out to my brother and best friend (below market rate) which covers about half of our mortgage. Finally getting our floors refinished - probably the week before Thanksgiving. It's going to be a major pain in the ass though - have to pack up and move out for a week. Find someplace that we can stay with the dog for a week, find someplace to put our stuff for one week . . . Hopefully will be replacing whole house plumbing (have 55yr old galvanized) and do a light bathroom refresh in the spring, replace rest of windows in the summer, and maybe kitchen reno in Q1 2016!