Should I refinance with current interest rates?

[Michael Elder]

Should I refinance? Currently in FHA loan with 2.5% interest. Lender is offering conventional at 5.8% but I'd get about 21k back to put towards more real estate🏄🏻‍♂️

[Nicholas Misch]

I definitely understand your dilemma. I love when I can pull cash out of a property to buy more investments with it. I always feel that it's wasting away sitting in a property. For myself however, I do think I would have a hard time taking it out at 2.5% and then be paying 5.8%, unless the deal or investment I am going to put it in can beat the 5.8% and compensate for the hassle and fees to refinance, so I would probably have to get 8% or better to make it worth my while.