Originally posted by TeamAmerica
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Cash-out refi..
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So the money will be used to buy a couple (at least 2 rental) properties with that will rent for 1300 to 1400 each. I have several properties and just cannot compete with cash investors. I have lost a few deals that have sold for about 80k and then flipped for 150k within several months.Last edited by catman; 12-05-2017, 03:09 PM.
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Originally posted by quackadikt View PostStay away from HELOCS. If you've got the equity in your home to do it, a cash-out refi is a much better deal than a HELOC.
Those closing costs don't sound bad to me...I'm a mortgage loan officer and I've got several refis in the works right now. They sound pretty reasonable.
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Average closing cost in US is between 3-5k so your in the middle there. If your over 720 credit you are taking a high rate for a 15 year note. If not then it certainly isn’t a bad rate. In TX you can only do an a6 cash out loan.... at least until January then I believe a6 is going away. This will give you a few more options, especially if your a disabled vet. Pm me if you need some questions answered. I practice mortgage here in Texas as well as 20 other states.
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Originally posted by quackadikt View PostStay away from HELOCS. If you've got the equity in your home to do it, a cash-out refi is a much better deal than a HELOC.
Those closing costs don't sound bad to me...I'm a mortgage loan officer and I've got several refis in the works right now. They sound pretty reasonable.
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