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Updated about 6 years ago on . Most recent reply

Joe Walton's profile image
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Joe Walton
  • Member since Nov 2, 2018
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Joe Walton's profile image
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Joe Walton
  • Member since Nov 2, 2018
Connect
Joe Walton
2
Votes |
6
Posts
Starting Out

refinancing a property

Joe Walton
Posted

Hi, I have a question about refinancing a property.  If I buy a property with cash say for $100,000 and I want to refinance for a conventional mortgage on the property and it appraises at $150,000 for the refinance, then does the bank refinance for that price.  In other words would I then have to pay a mortgage for $150,000.  I am confused on this process of doing a cash out refinance,  any input would be much appreciated.

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