Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 11 years ago on . Most recent reply
Brandon TurnerPoster
#3 Questions About BiggerPockets & Official Site Announcements Contributor
Pro Member
#3 Questions About BiggerPockets & Official Site Announcements Contributor
- Investor
- Maui, HI
- 3,946
- Votes |
- 13,324
- Posts
What Would You Do? (Fixed or Arm Refi?)
Brandon TurnerPoster
#3 Questions About BiggerPockets & Official Site Announcements Contributor
Pro Member
#3 Questions About BiggerPockets & Official Site Announcements Contributor
- Investor
- Maui, HI
Alright, so I'm working on a couple refinances right now, and one of them I'm a little stumped on - so I could use some input.
I owe $75k on a duplex that should appraise around $120k. I have 2 options:
1.) I can do a cash out refi for 75% LTV, or $90k, and pull out $15k in cash from it. However... it would be a 5-1 ARM.
2.) I can do a straight refinance for the $75k, not pull out any cash, and it would be a 30 year fixed mortgage.
What would you do? The extra cash would be nice, but I'm not desperate for it. Thoughts?