Should I refi now or wait until spring of next year??

[Aaron Gallington]

I have started going down the road to do a DSCR cash out refi on a duplex (BRRR) I purchased last year with my HELOC, but not that far yet. I know rates have dropped a decent amount in the last week or 2, but based on what i am seeing/hearing about rates likely to continue dropping, wondering if i should hold out?? I don't need to refi now. Property is cash flowing well under my HELOC, and I don't really need my money back from my HELOC until next year when i will buy another property. Any thoughts?? property is worth 400K and i am doing a 75% LTV cash out. 1.6 DSCR. I am getting quotes in the mid 6% range now with about 12K in closing costs (not including escrow), and no PPP. Closing costs include all typical including title and appraisal. I also have no issue getting conventional financing, but am going DSCR in order to get up to the 75% LTV.

I don't think i really need any more quotes at this time, that is not why i am posting this, just wanted to get other's thoughts.....