Cash out refinancing rentals to pay off primary home

[Braxton Warren]

The idea is simple I just don’t know if I am missing anything. The interest on my primary home is not tax deductible versus the interest in rentals being tax deductible. I am thinking about cash out-refinancing my rentals and using cash from those to pay off my primary home.

Primary home- Owe 470,000 rate 3.25%

#1 rental- Owe 135,000 rate 4.25% ( home valued at 410,000)

#2 rental Owe 175,000 rate 4.125% ( home valued at 245,000)

My rentals are on conventional primary loans so I understand I refinancing my turn them into investment loans. Should I take out as much equity as I can and use that to pay off my primary home? 

[Justin Phillips]

@Braxton Warren I'd much rather have no interest to pay, rather than having the ability to write-off interest. You pay $3 of interest to get $1 back on tax benefit. To pay off multiple properties I’m a big proponent of a very specialized 1st position Heloc that’s tied to a zero balance sweep checking account. My wife and I set one up on our primary while it was our primary (now rental) and it’s been an awesome tool for us. That sweep account allows all of our checking deposits/idle funds to sweep directly towards our outstanding balance, saving us a ton of interest cost. We also retain access to 80% of our equity, so it really maximizes our flexibility. I always recommend anyone who qualifies to check it out, you may be able to pay those all off much quicker than you thought possible.