My current home is valued at $715,000. I owe $147,000. It's a beautiful home, but it is not my forever home. I want a smaller home and something more like a cabin... I'm 50 years old. My current rate is 4.25 on a fixed 15 year loan.
Can I (or should I) refinance my home and take out $350,000 - $400,000 out and by my retirement home as a cash buyer?
I'm thinking I can get lower interest rates and buy now. Or if nothing else, get the cash out and be ready to buy when I want..
I appreciate your thoughts.
Drew
Can I (or should I) refinance my home and take out $350,000 - $400,000 out and by my retirement home as a cash buyer?
I'm thinking I can get lower interest rates and buy now. Or if nothing else, get the cash out and be ready to buy when I want..
I appreciate your thoughts.
Drew