C/O Refi or Refi/HELOC

[Aaron Mayo]

Hello fellow investors 🏡💸

First let me explain my goals in the next year or so. I would like to rent out my current place and buy another home by spring next year. The new home that I’m buying would eventually turn into a rental as well. For the current home, at the moment Im working with a lender to do a refinance to lower my mortgage payment. The options I’m considering are:

1) Refinance and take the minimum c/o for a refinance loan which is 2k in my case. Before I rent my place apply for a HELOC to fund my next home purchase

- Loan 2.875% 30yrs

2) C/O refinance the amount needed to purchase my next home. 
- Loan 3.25% 30yrs, .375pts($862)

Let me know your thoughts, thanks in advance! 

[David Kelly]

How much cash will the c/o refinance net you at closing?  You also need to look at total costs to do the loan beyond the points you are paying for the rate.