Deal or no deal
The refi cost is going to be about $500 in appraisal fee and $4500 that will be added to the loan which comes to a cost of $5000, and I can get about $30k out.. So $5 to get out $30k is too much right? Is this a good analogy?
I'm trying to get together 100k to buy and flip with my own money so there isn't pressure from hard money lenders... Also if i get home equatiy line of credit, its 7.32% APR for 23k loan with $500 cost for the appraisal.. is this a better option? Which option is better and why and why not? Please help me analyze this deal.. My mortgage person is trying to get me to refinance but i think its not worth it for me..