Student Loan Cash Out Refinance
Hello everyone,
I'm under contract on my first investment property using hard money. My plan has always been to do a standard cash out refinance on the ARV but am thinking of putting a spin on it. By making it a student loan loan cash out refi I can get a lower rate than a typical cash out and the payments will be part of the mortgage on the property which will be paid for by my tenants. I still have my full time job so this will free up more of my monthly income and bring cash flow from the rental. Additionally, I can then sell that property later and essentially sell my old loan as a house.
Is anyone aware of this program or used it before and is my understanding of how it works correct? If it is correct, this seems like a brilliant way to have someone else pay off my student loans. Thanks in advance for your input.
Adam Rinehart, P.E.
Most Popular Reply
@Adam D Rinehart If its investment property you will follow guidelines of cash out but will be consider as limited cash out. Make a comparison to make sure if its make sense to refinance student loan in investment property.