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ReFi Cash Out Timing to Hold for Down Payment

We’d like to buy a house in the very near future and want to be ready when the right house comes along as inventory is still quite limited in our area. Should we refinance our house now (taking $300-$500k cash out to hold) to have ready for down payment or should we do it when we find the right house? We don’t want to hold on to the cash for too long, but also don’t want to miss out on a house if this process might hold us up when we do find the right one (not sure how long refi typically takes)? We will not be selling our current home, going to lease it out.

submitted by /u/TimeInterview8042
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source https://www.reddit.com/r/RealEstate/comments/10ja17a/refi_cash_out_timing_to_hold_for_down_payment/
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