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Buying & Selling Real Estate
HomeForumsBuying & Selling Real EstateRefi worth it?
Nathan M.'s profile image
Nathan M.'s profile image
Nathan M.
  • from Northern, California
  • Member since May 19, 2015
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Nathan M.'s profile image
Nathan M.'s profile image
Nathan M.
  • from Northern, California
  • Member since May 19, 2015
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Nathan M.
  • Northern, CA
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Buying & Selling Real Estate

Refi worth it?

Nathan M.
  • Northern, CA
Posted Jul 13 2015, 22:55

Hi everybody I had the following question:

I bought my house for 140k a year ago with a conventional loan and 20% down. Wondering if I should refinance my down payment of around 30k back out now to re-invest. I owe 105k on the loan now (after refi will be 135k) and the property would rent for 1250-1300 a month. Is it safe to refinance my money out...or leave it in for now? I live in Northern California- Property Tax of 1% and right now insurance is $50 a month. 

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