All Forum Posts by: Elizabeth Thompson
Elizabeth Thompson has started 1 posts and replied 3 times.
Post: Financing w/cash-out refi
Elizabeth ThompsonPosted
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@Greg Dorn ok thanks
Post: Financing w/cash-out refi
Elizabeth ThompsonPosted
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@Guifre Mora thanks!
Post: Financing w/cash-out refi
Elizabeth ThompsonPosted
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Hi all. I’m brand new here and have a question about financing. I am thinking of doing a cash out refi on my primary home to obtain the funds to purchase my first investment property. I got an offer for refinancing in the mail yesterday, the interest rate is more than 1 percent lower than my current and it would save me around $70/mo on mortgage payments, but the closing costs were $11k+. Is that normal? On a mortgage of around $225k what kind of closing costs should I be looking for? Thanks!