Hot take: I thought the $38,000 cash out refi quote on my duplex in Boise was a scam, then I read the closing docs

Margaret Coleman · 2026-10-10T02:05:04.952037+00:00

Two lenders in a row quoted me rates over 9% last month so when a third one in Meridian came back at 7.4% with $38,000 out I figured something was buried in there. I sat at my kitchen table for two hours with a highlighter going line by line and the only weird thing was a $1,900 origination fee that they'd already told me about on the phone. My neighbor Dave kept saying cash out refis are how people lose their houses, but the payment only went up $180 a month and I'm using the money to replace the roof before it fails. Has anyone here actually used one to fund a big repair, and did the appraisal come in where you needed it?

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Hot take: I thought the $38,000 cash out refi quote on my duplex in Boise was a scam, then I read the closing docs | Cash Out Refi - nhfree.com