From: "Ron Andrews" 
Newsgroups: alt.org.natl-assn-mortgage-brokers
Subject: Re: Rental property refi or equity?
Date: Fri, 4 Jun 2004 06:34:39 -0500

You should get a better rate with an equity loan than a cash out refi.
Since equity loans are on average 1% plus prime, depending on credit.  If
you are interested in finding out more send me an email and I will give you
my number so that we can discuss this more.

Ron Andrews
Affinity Mortgage Corporation

"John"  wrote in message
news:67jvb01394pmbogc9vcih70f55t3scm6kn@4ax.com...
> Hello everyone,
>
> Thinking about taking money out of one of my rental single-family
> homes. I would like to use the money for home improvements on my
> primary residence.
>
> Would I get a better interest rate with a home equity loan vs a
> refinance?
>
> All suggestions welcome.
>
> Here a some rough numbers on the property.
>
> First morgage: 46K @ 4.23% ARM (12 years left)
> Second mortgage: 11K @ 4.23% ARM (12 years left)
> Appraised value: $350K
> Need cash out: $150K
> Location: Southern California