Chiro21, Home Buyer in Round Rock, TX

Should we Refi or sell?

Asked by Chiro21, Round Rock, TX Wed Aug 14, 2013

We bought our house last summer at the right time. The house is 4666 sf 6/4 and appraised under value at $330 while dropping from $400k after sitting on the market for 9 months. It's way more house than we need and bought it realizing we would build equity when the market came back. Looking at comps over the last couple months, it looks like it's crept up to $400-450. We are trying to pull equity out of our house and want to know if we should refi (our rate is 3.75) if we should do a HELOC or Home Equity Loan or if we should go ahead and sell, then downsize. We want to pull the cash out to set aside so we can start a business. Thanks.

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Hey there, I would like the opportunity to help you with your decision. I do home equity and refinance loans everyday. I can fully explain the differences to you and let you know what would work best for you.
visit http://www.mylendingplace.com/Shannon so I can get started helping.
0 votes Thank Flag Link Wed Oct 30, 2013
I would consider selling it at this time. You have a great rate, if your wanting cash for your business then you can make two moves. reduced your payment around same interest rate and recover your equity.
0 votes Thank Flag Link Sun Oct 20, 2013
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