Quote:
Originally Posted by westchester
Ok I owe 175 k on my home w 7 yrs remaining on a 15yr mort at 5%.
I bought a mixed use property 4 yrs ago I owe 377 k w a 30 yr mortgage at 6.5 %. No one will refi a mixed use right now.
So being that rates are very cheap. Should I refi my house and pay off the mixed use income property ???
|
Not nearly enough information.
What's the current market value of your home? Sounds to me as though you're talking about a cash-out, meaning getting a new mortgage with a much higher amount so you can pay off the investment property.
Do you have both properties mortgaged through the same lender?
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
