Updated almost 4 years ago on . Most recent reply
Cash out Refi or New Mortgage for New rental property
Hi all, I have a duplex which has about 250k in equity, and based on the 70% rule I have more than enough to use a cash out refi- and pay cash for a rental property. Both I would pay 25% down out of pocket.
My thought it would be better to do the cash-out refi, because that will keep one less Mortgage on the books. Thoughts?