Updated over 5 years ago on . Most recent reply
Too soon for a ReFi?
Hello, Community!
My wife and I are (hopefully) nearing the end of a 2 flat rehab project in Chicago. We were noobs who fell into a great deal, however, it ended up being a total gut—taking us almost two years. We blew past our modest renovation Fanny Mae Homestyle budget (reno added to the mortgage) and we have dropped some serious dough into the place. It’s greatly improved and we’re a month or two away from renting the second unit. With rates so low, I’m anxious to lock in a lower rate and save some money on our monthly payment. Would I be jumping the shark to start a ReFi process while we’re still waiting on inspections and have yet to rent? (We’re wanting to BURRRR...)