Refinance Primary Home Affect My Next Loan to Buy and Move

[Jonathan Balos]

Hi,

I refinanced my primary home last year (March 2019) to get cash out and buy an investment home which I did. The rate I got was 4.25 which was decent at that time. 

Would it be wise to refinance and get some more cash out and lower the rate? I was planning to move shortly and keep this and rentit out and buy another primary home however I am wondering if me getting a new refi would affect the new primary home loan? Does it affect my chances to get a good low rate esp. since my greatest concern is DTI and how the new loan would affect that.

Thanks in advance for any insights!

[Jimmy Lieu]

If you did a cash out refi in 2019, how much would the property have appreciated for it to be worth it to get another cash out refi a year later? Are you able to provide some numbers?

And yes, I am pretty sure if you do another cash out refi, you would lower your DTI because your mortgage will end up being higher (and you don't have any rental income to offset it) since this is your primary home right now.