All Forum Posts by: Rosalio Hernandez

@Dave Skow 6% interest and 12 yrs left to pay off

At the time, financed it for 20 years. Payment is $780 a month with $250 aonth going to taxes and we rent it for $1,200. This leaves us with $ 170 a month, at the time not saving for any expenses. That's why I wanted to know if wise to refinance for 30 yrs. We owe &70,000. We would still cashflow the same wafter putting aside for expenses

I would like to make an addition to my house to rent out, but d not have the funds.We have a paid off duplex that is occupied, I thought it would be a good idea to get a loan and fund the addition, if we dont get a loan the other option is to sell. I should mentiom The property is 2 hrs away. After taxes and insurance, we keep about 5,000 a yr.