Can't decide on refinancing or not, what do you guys think?
We are going back and forth on doing a cash out refi to get a down payment for a multi unit property. Our current rate is 3.375% and we are looking at 4.125% if we do a refi for a 30 year loan. Any thoughts? by mjewell819 from Horseshoe Bay, Texas. Mar 2nd 2022
Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions
While interest rate obviously is important, there are so many other things to think about too. Of course no one wants to leave a lower rate for a higher one, but viewing the big picture, and factoring all that in, how dos the math look. Cash out on one property to help purchase more properties is super common. I lend in MN, WI IA, ND, SD. Find me at FirstTimeHomeBuyer-MN.com - Cambria Mortgage, NMLS 274132
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