Refinance 30-Year FHA after 1 year in the house to lower interest ...

Hello everyone,

Would appreciate an advice on my current situation. Some initial data:
1) Current mortage is 30 year FHA, I've been in the house for little over a year.
2) Current balance roughly $410,000, original balance $419,000
3) Current interest is 4.125%

My mortgage agent who did my original mortgage got me to refinance. The closing is coming up in a few days and I've gotten some doubts after looking at the GFE I got. Here is what I am getting:

1) 30year fixed with 3.25%
2) New loan amount is $416,500
3) Origination chage of $9500
4) Credit for interest rate chosen: $-14,840. Total adjusted origination charge is $-5318.
5). UFMIP charge $7200 roughly. Title service and lender's title insurance: $2995. Plus some smaller stuff like transfer taxes and recording fees. Total settlement charges of $6830.

After thinking about it, I am losing a year in interest payments, increasing my pricipal by about $6500 and reverting back to 30 years. Does this sound like a good idea?

Thanks in advance!

Source: http://www.zillow.com/advice-thread/Refinance-30-Year-FHA-after-1-year-in-the-house-to-lower-interest-Should-I/475293/

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