Inherited Properties – Did you know that you can refinance an inherited property to buy out other beneficiaries or make needed repairs?  If this sounds like your situation, let’s discuss your best options.
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Inherited Properties – Did you know that you can refinance an inherited property to buy out other beneficiaries or make needed repairs?  If this sounds like your situation, let’s discuss your best options.

ByBrandon Butler

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Assuming a Lower Rate Mortgage? It may seem like a great idea to assume a low-rate mortgage and then get a Home Equity loan to cover the cost of any repairs you would like to make. Depending on what you would like to do, it may make more financial sense to refinance to pull out that equity.  HELOCs typically float with the market.  If rates go up, they can get really expensive fast!  Let’s do the numbers on your situation to see what makes sense for you!
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Assuming a Lower Rate Mortgage? It may seem like a great idea to assume a low-rate mortgage and then get a Home Equity loan to cover the cost of any repairs you would like to make. Depending on what you would like to do, it may make more financial sense to refinance to pull out that equity.  HELOCs typically float with the market.  If rates go up, they can get really expensive fast!  Let’s do the numbers on your situation to see what makes sense for you!

ByBrandon Butler

A subscription is required to access this content—please view our available subscription options. If you are a current subscriber, please log in.