What would you do with this cash out? Worth it or not?

[Steven Macdonald]

Hey everyone! I always appreciate the help and thoughts on Realistate subjects. These forums are awesome. So I'm at the cross roads with my currently property. I have 104k in equity I can pull out. I spoke with a VA lender yesterday since the current loan I have is VA. My original loan is 436k on a duplex and it is now worth around 560k give or take. I am able to take out 100% LTV. This is the decision I need to make if it is worth it or not?… The new loan terms would be

560k. 3.5% interest rate with total month being $2759

= 104k in pocket

Current loan

436k. 2.25% interest rate with Monthly being $1926

My biggest thing is the interest rate jump. Would it be worth taking the equity out to buy another property? And what would you do with it?

Respectfully,

Steven M.