My cash out refi took 4 weeks longer than I planned and I'm glad it did

I started a cash out refi on my rental property in Cleveland back in March. The appraisal came in 15k lower than I expected, so I had to pause and fight it for nearly a month. Ended up getting it bumped up after sending comps from three similar houses that sold nearby. The extra time let me lock a lower rate when rates dipped in April. Has anyone else had a delay actually work out better for them?

2 comments

2 Comments

christopher4021d agoMost Upvoted

Honestly I gotta disagree here. 3 weeks of delays cost me a deal on a house in Parma because the seller walked. Rate changes are a coin flip and you just got lucky.

jason5241d ago

Can you believe some people actually get rates locked without the universe conspiring against them @christopher402?

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