Refinance high interest mortgage 7% or Pay Off!
Hello Everyone,
My first time posting on this forum. Can I get some advice on what to do with my situation. Currently I have $150K balance at 7% on a condo purchased at $560K. It is probably worth $700K now. If I save aggressively I can repaid loan off in a year. Or should I use my savings towards a investment property ? Or Do I do a cash out refinance? Regardless if i pay off or keep paying mortgage I would need to tap in equity as I need it for future investments. Please help! Thank you~