do?

[gigapet]

dddd

 

[Sex Smurf]

I think you get to tap your built up equity and whatever cash you take out, that is added to the principal that you will owe on your new refinanced loan.

 

[gigapet]

does appreciation of property value count towards equity?

 

[Sex Smurf]

Originally posted by: gigapet
does appreciation of property value count towards equity?

yes. you can refinance and get cash out, or get a home equity line of credit. When you get refinanced, they will re-appriase your house to see how big of a HELOC (home equity line of credit) loan you can get. From that, you can tap your equity. Or just refinance and get cash-out.

 

[daveshel]

Originally posted by: gigapet
does appreciation of property value count towards equity?

You bet.

 

[gigapet]

Originally posted by: daveshel

Originally posted by: gigapet
does appreciation of property value count towards equity?

You bet.

nice. Maybe I can start expanded my real estate investments.

 

[Sex Smurf]

Originally posted by: gigapet

Originally posted by: daveshel

Originally posted by: gigapet
does appreciation of property value count towards equity?

You bet.

nice. Maybe I can start expanded my real estate investments.

Good idea. Just keep in mind that money that you borrow from equity still needs to be paid back at whatever rate you're borrowing. That will be factored into your Debt:Income ratio and play a factor on how much your next investment can cost you.

 

[dirtboy]

Originally posted by: gigapet

Originally posted by: daveshel

Originally posted by: gigapet
does appreciation of property value count towards equity?

You bet.

nice. Maybe I can start expanded my real estate investments.

It's always a good idea to leverage your holdings by taking a loan during a period when rates are rising to buy an investment that has reached a record high in price.

 

[gigapet]

Originally posted by: Sex Smurf

Originally posted by: gigapet

Originally posted by: daveshel

Originally posted by: gigapet
does appreciation of property value count towards equity?

You bet.

nice. Maybe I can start expanded my real estate investments.

Good idea. Just keep in mind that money that you borrow from equity still needs to be paid back at whatever rate you're borrowing. That will be factored into your Debt:Income ratio and play a factor on how much your next investment can cost you.

My mother is a mortgage broker I'll let her handle the fancy schmancy finance lingo! :wink;

 

[gigapet]

Originally posted by: dirtboy

Originally posted by: gigapet

Originally posted by: daveshel

Originally posted by: gigapet
does appreciation of property value count towards equity?

You bet.

nice. Maybe I can start expanded my real estate investments.

It's always a good idea to leverage your holdings by taking a loan during a period when rates are rising to buy an investment that has reached a record high in price.

<meter> sarcasm meter destroyed </meter>

 

[Sex Smurf]

Originally posted by: gigapet

Originally posted by: dirtboy

Originally posted by: gigapet

Originally posted by: daveshel

Originally posted by: gigapet
does appreciation of property value count towards equity?

You bet.

nice. Maybe I can start expanded my real estate investments.

It's always a good idea to leverage your holdings by taking a loan during a period when rates are rising to buy an investment that has reached a record high in price.

<meter> sarcasm meter destroyed </meter>

There are always real estate markets that are rising - you just have to find them.

 

[DribbleDrive]

Originally posted by: dirtboy

Originally posted by: gigapet

Originally posted by: daveshel

Originally posted by: gigapet
does appreciation of property value count towards equity?

You bet.

nice. Maybe I can start expanded my real estate investments.

It's always a good idea to leverage your holdings by taking a loan during a period when rates are rising to buy an investment that has reached a record high in price.

Concur. Rates go up, rents go up. Rates go down, rents go up.

 

[GuitarDaddy]

Yep, the only problem with cash out equity loans is they usually try and kill you with the closing costs and fees.

I looked into this last year and decided against it, because the interest rate of the new loan was only slightly better than my current rate. And I was going to get about 10k in cash, but the closing costs and fees rolled into the new note were $4-5k🙁. No way could I make enough investing the 10k to offset those outrageous costs of the new loan.

 

[Kelemvor]

I close on my refi tomorrow and we're getting cash out at the end. Most mortgage places will give you up to 80% of the appraised/assessed value of your home with no penalties. Our house has gone from being valued at $175Kish in 2001 to $245K now. So we're refi'ing at the 80% of the higher rate and combing our mortage, home equity line, car loan, and extra spending cash all into one. We'll have $5k-$10k left over at end which is going towards a new freezer and a fence for the yard.