refinance a new mortgage?

Hello, I recently (3 months ago) bought a new home from the builder. I went with the builder for my Mortgage.

So the house purchase price is $355K and appraised for $415K I have put 20% down

I am thinking if it is possible to refinance the loan for 80% of the value of the home (330K) and keep the 50K cash.

Please let me know if this a bad idea or even if its possible.

More real estate tips at Program Realty Wix site

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s