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Updated over 9 years ago,

Richelle Smith's profile image
Richelle Smith's profile image
Richelle Smith
  • Rental Property Investor
  • from Chicago, Illinois
  • Member since Feb 19, 2015
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Richelle Smith's profile image
Richelle Smith's profile image
Richelle Smith
  • Rental Property Investor
  • from Chicago, Illinois
  • Member since Feb 19, 2015
Connect
Richelle Smith
  • Rental Property Investor
  • Chicago, IL
0
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6
Posts
Private Lending & Conventional Mortgage Advice

FHA Refinance: Cash Out, home equity loan, or HELOC

Richelle Smith
  • Rental Property Investor
  • Chicago, IL
Posted

Hi,

I purchased a multi unit in Chicago a year ago with an FHA loan. The property is now worth $375,000 and I owe $260,000. I want to refinance out of the PMI and then pull out cash to buy another property. What is the best way to do this; refinance with cash out or refinance and get an equity loan or HELOC?

Thanks! 

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