[quote=AN][quote=flu][quote=AN][quote=flu]I envy you guys. I wish I had a home worth taking a 30year out on right now…[/quote]Cash out refi?[/quote]
You’re killing me and mocking me at the same time, lol…..
I’m an old man now… And old fart… I’m expecting my AARP card in the mail anyday now, and I think I should go shop for an oldsmobile. The thought of having another 30 years to go….Dude….I’m going to be eating out of a straw…
No sir, only going to happen with another home purchase….I can’t find anything good though. Rental or Primary…[/quote]I don’t get it. If you’re OK with buying a new home now with a loan, then why not do a cash out refinance? Isn’t that essentially the same?[/quote]
No it isn’t. If something unexpected happens, if I take on a new loan on a new place, I can walk away from it and still live in the old place…
If I cash out refi on my old place and use it to pay for the new place, I stand to lose both places, since it is unlikely a cash out of the old place will complately pay for the new place.
Also, a cash-out is typically limited to 75% of equity….Versus 20% is available on a new place…I’m half serious about trying to put the bare minimum on the new place…
