It rarely makes sense for a seller to take back a note, particularly at 70% LTC.

However, paying off your mortgage that you acquired with low interest makes no sense to most in a 7%+ interest rate environment.  

We are considering either refinancing or selling and want to get a sense of the value before we take next steps. 

Hey BP, I have seen some people have been asked to give a down payment just to apply for a loan (in the last conversation I had , it was with an investor who needed a commercial loan) How common is this and why is that even asked before the loan has been given, would it apply to the balance eventually? 

@Russell Brazil Thank you, makes sense.

If you are unsure, it would make sense to get another quote from another lender and compare the fees.

That's a common misconception, especially for new investors.

Its good to explore all options so looking at what selling would do as well as LTR could make sense as well. 

That makes sense. 

If this is really crucial, and you're worried the market is going to crash, buying in CA makes sense because of the volatility.