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Updated about 3 years ago on . Most recent reply

David Kimball's profile image
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David Kimball
  • Member since Mar 4, 2022
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14
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David Kimball's profile image
David Kimball's profile image
David Kimball
  • Member since Mar 4, 2022
Connect
David Kimball
4
Votes |
14
Posts
Starting Out

Cash out refi current home and rent it out

David Kimball
Posted

Hey guys, 
What are your thoughts on doing a cash out refinance on our current home to rent it out, and use the money for a downpayment on another home we would move into.

The current house has a principal balance of 140k at a 2,75% rate on a 15 yr mortgage.

How would you think about how much money to pull out and how much to put as a downpayment / what priced house for a new house?

Austin, Texas
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