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Theoretical Refinance Question
Posted on 4/5/21 at 6:23 pm
Posted on 4/5/21 at 6:23 pm
(no message)
This post was edited on 11/30/24 at 8:22 am
4
Posted on 4/5/21 at 7:18 pm to jwn0002
The only issue I see is duration of your mortgage. Any loss over that period of time like last March could wipe out all of this income.
Posted on 4/5/21 at 8:04 pm to jwn0002
High dividend yields exist because the stock is shitty, you will likely lose value on the equity. But you have the right theory, you finance as much house as you are comfortable with and then invest the savings, which in theory over the long haul will yield a gain over what you pay in interest.
Posted on 4/6/21 at 9:16 am to jwn0002
refinancing is a no brainer even if you don't take out any money with it. unless you plan to sell in the next 2 years, refinancing should easily pay for itself. and you can do a 15 or 20 year note and get a lower interest rate. they payments shouldn't be much more than you are paying now, but based on your income, that shouldn't matter much.
Posted on 4/6/21 at 10:45 am to jwn0002
If you are using the money to pay off debts or make money, now is the time to refinance. I can send you a analysis showing when cost of refinance will pay itself off or the debt consolidation calculator to see how much you could save per month.
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