rifi to 15year and earn 0% or keep the 30year and earn8%

[Nick Halsey]

I recently Put 70k into a sfh in Everett,Wa. After my sweat equity I believe I’m sitting on 50% loan to value but I’m only earning 5% annually on that money.

Interest rates lowered a bit so I could actually refinance, take out 40k and then I would be making 8% annually on the 30k that will remain invested. Or should I refi to a 15 instead of a 30 year leave the 70k alone earn 0% but the property will be paid off faster??

I’m leaning towards the cash out option but interested in hearing others thoughts.

Thanks!