here is my case scenario. I currently have a 500k 15 year mortgage at 3.125% rate,and was wondering if it was worth it do a cash out refinance and get about 150k in cash, for a 30year at a 5.5% rate. I would use the cash that i got and use it to invest in a rental property. Will it be too risky to refinance a house that already has such a good mortgage rate?
@Daniel Pak You have good interest rate, take HELOC if possible.