Should I refinance before switching jobs?

Question

Any advice is appreciated. I have a Duplex I was doing a long BRRRR on. I have my current mortgage as a 25 year (5 year ARM) at 7.5%. I have 2 other monthly loan payments I would like to pay off or lump in with my refinance as I believe with the forced appreciation and normal appreciation I will be able to pay off most my HELOC (5.99%) and all of my Credit Card that is currently at a 0% APR until end of May. I want to consolidate that CC before the 0% APR ends because the interest rate will really make it hard to pay off.

I was waiting until interest rates dipped down a touch more but I know they could also go back up in the next 3 months. Then the last piece to my puzzle is I am expecting to switch jobs (from a W-2 to a completely different W-2 with similar pay) in the next month or 3.

Should I quick refinance now or play it by ear the next 3 months?

Elias Halvorson · Answer

What Jeff asks is key. No problem if the salary structure is the same, but if there is any sort of commission income involved, and you need that commission income to qualify for the refi then waiting could cause issues. No one knows the direction of rates. We all hope they go down, but will they and by how much? With tariffs, potential trade wars, and all sorts of economic uncertainty I would probably play it safe and just refinance now.

Jeff Chisum · Answer

When you say similar pay do you mean amount or will you also be paid the same?  Salary, hourly, commission, bonus, etc…?