Refinacing

[Sarann K.]

Hello BP army,

How are you all? I have a question regarding refinancing process. Let’s say I put down 20% for my first home, and after a year or two can I re-finance to cash out that 20% to put on down payment for another property? Are there any drawbacks of doing this way? I tried to search online but somehow it’s not clear enough, so hopefully I can get some clarity from this question.

Thank you very much,

Sarann