For larger bridge loans and development deals they are solid Originally posted by @Jay Hinrichs: Tarik I dont think she said she was refinancing i think she said she is looking to finance so probably an purchase money loan My main point was that these scale of loans the borrower needs to look within and be realistic if they can truly qualify.I am not sure if this company will take the 10k when cursory information reveals a high chance of loan being rejected..and if borrowers are qualified for this type of financing they usually have a pretty good grasp on whats needed. 

Are you refinancing because you need to take money from equity for the divorce?

Hi Chetan,I’d suggest keeping a close watch on your cash flow when considering raising capital or refinancing.

If you cash out refinance you incur (more or less) all the lending fees associated with a financed property purchase (even though you are just refinancing the property you already own), and then you incur significant fees when you sell the property (closing costs, commissions, etc).  

It’s even Called a cashout refinance, even though you aren’t refinancing, since it’s paid off.

Should I consider refinancing to help decrease my monthly payment (my current rate is 6.41%), should I cut my losses and sell the property (which I’m hesitant to do bc I don’t expect to househack again), or is there any other route I can take?

There is literally zero difference between a house you just refinanced at 80% LTV and the same house if you buy it today with 80% LTV. 

I think because the majority of people who refinanced during COVID are holding up, we don't see much inventory in the market.

Are you buying the property all cash and then refinancing to take your money out?

Have you looked at refinancing your current rentals to purchase more properties?