Current mortgage balance is 290,000 Value is about 350,000 Current rate 6.99% with $190/mo PMI
New rate would be about 6.4%
About 20K total other debt I’m trying to pay off.
Would it be wise to try to refi, which will lower my payment by about $400/mo and then cash out about 15K equity to use with my 5K tax refund to pay off my 20K debt? All of my non mortgage debts are 6% or less.
original posted by BassTrombone2373 to r/personalfinance on Fri, 01 Mar 2024 18:58:30 GMT.