All Forum Posts by: Elias Halvorson

If you believe rates are going to go lower in the next couple years you should wait. 

The seller only knows what you/your agent told and/or given them ie the pre-approval included in the offer. Keep an eye on rates as if rates fall you can renogotiate the rate if interest rates fall enough. 

VERY high fees for only pulling out 100-140k. Have you considered a personal loan from a local credit union or from SOFI? I know SOFI does personal loans up to 100k with a document fee of maybe 300 total And interest rates at 8.75-12%. Without knowing your complete financial situation. That would appear to be a better deal vice doing a cashout refi on your 400k and going from 3.75 to 8.99% on the entire amount. 

Have you considered a personal loan? I’ve gotten an 80k personal loan before with SOFI and believe their Current rates are around 8.75. I think it’s a flat 300$ doc fee. Those fees do seem a little high but as folks have stated before, that’s not too high considering the low loan amount.