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Updated over 1 year ago on . Most recent reply

Enwan Casson's profile image
Enwan Casson's profile image
Enwan Casson
  • Member since May 22, 2023
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Enwan Casson's profile image
Enwan Casson's profile image
Enwan Casson
  • Member since May 22, 2023
Connect
Enwan Casson
5
Votes |
4
Posts
BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Cash out refi

Enwan Casson
Posted

Good afternoon, 

I want to do a cash out refi for one of my rental properties. I have two loan options to select from (30 year fixed and a 10/1 arm). 30 year fixed has an interest rate of 7.875% with a 54321 payment penalty. The 10/1 arm is at 8.0% with no payment penalties. 

I  don't plan on selling this rental property.  Which one is the best one? Thanks.

Wilmington, Delaware
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