Cash Out Refi-thoughts?

[Jonathan S.]

Hi All,

Need some advice, bought a owner occupant duplex for 160k; put near 25k into it. Terms: 30yr 3.5%, 0 down(VA loan), rent covers mortgage. I have the option for a 100% cash out refi at 3.375% locked in today. Zillow est value at 215k/Redfin at 205k. Mortgage would go up about 200 per month. Purpose would be to payoff CCs and help save up for a SFH rental.

Maybe should wait to get more equity out? Hate the idea of deeper debt but cheap money imo. Thoughts?