All Forum Posts by: Israel Carbahall

Thank you Mr. Hickman, for your reply. I believe i have the answer i was looking for. I initially wanted to refinance because the rates were better(even as a primary to investment refinance). Refinancing would save me 4k in interest in the next 10 years but it would add 6-7k in closing costs. Not really worth it unless I had to do it for legal reasons or to prevent an acceleration on said loan, etc.

I have a construction loan that will be converting to a permanent mortgage soon. This new build will become my primary residence and loan. 2.5 years ago, I bought my first home as a primary home. I have now moved out and have rented out the whole house. Do i need to refinance my first home as an investment home given that I will no longer occupy first home?  I am afraid to ask my lender because i feel they can accelerate my loan. Another bit of info, i have paid off half the original loan.