<prompt> Human: I am considering refinancing my mortgage. With a 5.375 interest rate thats a remnant of the First Time Homebuyers Credit in 2010, I have an opportunity to get myself around a 4 interest rate if I extend it back out to 30 years. However, Im not entirely sure how long Im going to be living in the house. It could be 2 years, it could be 10. It all depends on my job opportunity.My mortgage payment is currently around 770 No PMI, including taxes and insurance. I contacted a mortgage consultant who estimated that I could save about 100mo if I do a straight-up refinance. However, I could potentially get out about 3000 in cash, keep myself over the 20 equity, and save 60mo. I would use the 3000 to pay for a new roof, but also perform some small upgrades to the bathrooms and kitchen.I might need a new roof on the house next year insurance should cover it due to a hailstorm, minus the deductible of 1000, and I also have these student loan debts that need to be paid, as well as about 1000 in credit card debt.My Student loans should come out to be about 500mo. Assistant: I could save about 100mo if I do a straight-up refinance. However, I could potentially get out about 3000 in cash, keep myself over the 20 equity, and save 60mo.So you can get 3,000 in exchange for paying 40month for 30 years? Thats 14,400.Human: You assume I intend on living in this house for 30 years. I dont.  <response>: If you sell earlier, you get less cash back because your loan value is higher. Basically youre taking a 3000 loan at 4. If you use that cash to pay off higher rate debt, fine. But I wouldnt put it into your house, because that investment is not likely to return more than 4 unless you really know what youre doing and do it right before you sell; 3k in paint, trim and fixtures could net you more than 3k in increased sale price.Using that calculator, I put in 3000, 4, and 30 years, and selected yearly amortization table. I used start date of Jan 1, 2016 so you could see 12 month buckets. Something doesnt seem right with the numbers he gave you 40 difference in payments, because the total interest on the 3k over 30 years is on 2150. 