I have bought my house in fort Texas a year ago for 250k va loan at 3.5% , should I refinance now since rates are low ?? Any thoughts ? Thank you

@Alexander Ferrer tortorelli

I ran a simple refinance calculator while making some assumptions, and you stand to make over $224 a month in savings. This could be more or less depending on the current length of the mortgage and the new loan terms. 

I refinanced my property in Louisiana and tripled my cash flow. What is your goal with the property? Are you holding it or trying to sell it? My advice is to refinance, hold it and reinvest the cash flow for other investment options. Depending on the lender you use, a 2.25 interest rate is in the realm of possibility. Additionally, refinancing a VA loan requires no money out of pocket. However, the cost is added to the mortgage value. You are looking at 4 to 8 K in REFI costs and fees depending on the rate and discount points applied to pay down the interest rate. I would also highly recommend finding a local lender in your area. They seem to have much better terms.

I saw you are in the Fort Worth area too. My sister lives in the area and home prices there have spiked like many Texas markets. Depending on the equity you have in the home and your goals for future investments cash out refinance could be another option. I have not tried this, but recently did some improvements on my second property and built a nice equity egg I may tap into for my third investment property. 

Sincerely 

Josh 

@Alexander Ferrer tortorelli I would absolutely look into it if you plan to keep the home for the long term. If you're going to sell in a year or two, don't waste your money on the closing costs.

@Alexander Ferrer tortorelli You definitely should look into doing an IRRRL. This is a very simple and quick process.

@Joshua McMillion thank you so much for your advise , I am thinking about keeping this house and have some savings , and with that cash flow , use it as some help to buy my first duplex as investment .

House market prices here are rising up , there is a bidding war for home purchasing , and houses are getting sold in 1 day . A lot of people from California are buying like crazy . I am working now as HVAC Maintance assistant in a property , and our main boss is buying commercial multifamily as crazy , in fact he just bought 138 unit today in Addison .

@David Pere thank you for your advise , I am going to keep this house for long , so I think it would be a nice idea to refinance .

@Trevor Reed thank you i will double check on that !