Would there ever be a time when refinancing at a higher interest rate would make sense?!
I want to free up my fha, so I can purchase something closer to work which is less than 100 miles from my current house. I can refi my current home as an investment at 4.2(1.3 higher than my current house) and get another home using fha to my new primary
@Angie Jean yes, it's a necessary evil in order to buy another 2-4 unit with FHA. But you will also be getting rid of your MIP, which bridges the gap of the higher rate.
Thank you for your reply. I wanted to make sure that I wasn’t paying for something I didn’t need to