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Updated over 4 years ago on . Most recent reply

User Stats

139
Posts
54
Votes
Jay Yoo
  • Investor
  • Seattle, WA
54
Votes |
139
Posts

Canceling refinance application

Jay Yoo
  • Investor
  • Seattle, WA
Posted

Hello all

I know I wasn’t quite careful with my plan in near future.

Im in the middle of refinancing on a investment property, and 80% progressed.

I would like to sell the property in June 2021 when my tenant's contract ends. So I can make a better investment on a higher ROI. $50k cash invested and $2k cash flow a year, knowing HOA increase and water heater near EOL.

Should I take the non-refundable $500 I paid to the lender and cancel it? Or should I continue with refi and adds $6000 closing cost on principal? I guess I answered my question but wanted to see if others have any other opinions. Thank you.

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