WHEN TO REFINANCE? (Refinancing Your Mortgage + Creative Real Estate Investing)

When should you refinance? This is a question that comes up often – is a HELOC (Home Equity Line of Credit) better than refinancing your mortgage , when is the right time to refinance, what about refinancing rental properties, etc, etc. Matthew Pillmore is joined by additional experts in the field of Real Estate 2018 for this episode where we discuss the much talked about term – Home Refi!

In this episode, we take a popular question from our recent live Q&A, just in case you didn’t catch it (considering it is over 2 hours long!).

Comment below with any real estate, investing, rental property, mortgage , housing, real estate investor, and/or lending question you’d like us to answer in our next live Q&A or possibly in our next video!

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Comments (18)

  1. This information is insane!!!! Thank you guys for the awesome content

  2. Can a HELOC, as a Debt Weapon, be in the first lien holder position or should it be in the second? I finally have grasped the concept and understand pretty well how it works in the 2nd position but having trouble wrapping my head around how to make the lump sum payments if it is in the first. We refinanced our primary home 2 1/2 years ago to build our mountain cabin (not quite finished) which has no mortgage on it. Fortunately our primary home has appreciated over twice in value so we have a pretty good deal of equity.

  3. Can't wait till my free call in November! I have so many questions.

  4. We have refinanced twice and thought we knew what we were doing.. lol.. we did somewhat. Thanks for the discussion. Love this channel!

  5. Good discussion!

  6. Nice video also look at the break even point on that mortage refinance. If your flipping from an FHA to conventional and eliminating the PMI is also a great choice and could save thousands in the long run of owning your home.

  7. I refinance 7 out of 10 propertiesFrom 23 years to 15 years I decreased the interestfrom a 7% to a 4% and lower the payment is a great idea but in the other properties I am thinking of using A debt weapon to bring it down to 15 years

  8. Great video! I look forward to talking with you guys over the phone about my situation, i just started my mortgage and after thirty years, i will have paid $168,000 in interest cost for financing $62,000, i have a few debts i'm trying to get rid of, and want to take them on in the most effective way.

  9. I'm hooked on your videos… Already signed up for the free class

  10. The bottom line here is to only refinance only if you know what you are doing. Any doubts seek good advise. It can save you thousands of dollars. Btw Matt, how do I obtain the Amazon gift card I won? Emailed and left a phone message. Thx!

  11. Hi guys, is really good to see my question getting answer thanks. CF is the key.

  12. Great Q&A! I am looking into getting a Heloc in six months, but some lenders I've spoken to have nothing but negative things to say about them. They always steer my towards doing a refi to take cash out. They just don't like the Heloc for some reason. Anyways great video again!

  13. Great video. Learned a lot about the pros and cons here.

  14. It is interesting that the banks are not any easier to deal with even for those who are in great standing. Makes this feel one less area where the divide is not as big between the rich and the poor.

  15. HELOCs are better even with rising interest rates?

  16. Just talked to you about this, and am so grateful you opened my eyes to some unseen items to watch out for, such as overall impact, I.e. Credit score, term, interest, the whole picture. I hadn't considered a couple of those so it is making my decision much easier, especially when I talk to the bank about the difference between extending our existing HELOC to refinance into a conventional mortgage with a HELOC on the remaining equity.

    Thank you

  17. Second. Not refinancing. I’m in the stage where the majority of my payment is hitting principle. I see the light for when my payments are done. #ohwhatafeeling.

  18. Hi Matt. Why is it that HELOCs are harder to get on a rental property? From my (probably naive) view, it seems like apples to apples as far as the bank is concerned.

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