Yes i will use the search, but in the interest of efficiency and real time conversation.....

I have a rental property and mortgage with a 5% rate and PMI (ouch, I know)

I would like to refi in order to drop the PMI and get paid off in 15yrs vs my current 22+yrs left.

The closing costs are north of $7500 which puts the interest savings in the end at ~$22k

With a lump sum of $15,000 I can do better on the interest savings, I am at a ratio that allows me to drop the PMI lowering my payment, and will save 4years of term.

To get to 15years, I am $27k out of pocket with >$40k interest savings. This is the equivalent $150 month for the 15years which is less than what the refi bill would be

Is there something I am missing? Is there any reason to Refi? Ever? I do understand adding years if youre having trouble paying bills...But we're Mustachian right? ;)

Tax Implications maybe?

Cheers and thanks