Updated 23 days ago on . Most recent reply
Is this a bad time to do a cash-out refi?
I have been talking to a bunch of people who work in real estate about whether this was a bad time to do a cash-out refi.
The responses were the following:
It does not matter whether it is a good or bad time. As long as you can cover the monthly mortgage payment.
Interest rates are still too high and if you to refinance, then avoid the cash-out refi.
Avoid the cash-out refi, but pay off some of the principal and refi was is left.
What does everyone think?
The responses were the following:
It does not matter whether it is a good or bad time. As long as you can cover the monthly mortgage payment.
Interest rates are still too high and if you to refinance, then avoid the cash-out refi.
Avoid the cash-out refi, but pay off some of the principal and refi was is left.
What does everyone think?
Most Popular Reply
@Freeman Schultz
It really comes down to the deal. If you’re pulling equity to put into another property that cash flows enough to cover the higher debt, it can still make sense even at today’s rates. If you’re just pulling cash without a clear plan or strong numbers then yeah you’re taking on extra risk.
It’s less about timing the market and more about making sure the math works with today’s payments.
- Nadeem Alamgir
- [email protected]
- (216) 677-0585
Reafco
4 Reviews
5.0 stars