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.
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