Q: I have mortgages on a rental property and the home I occupy. I would like to refinance the mortgage on the home I occupy. However, I will be moving across country in the next couple of months and plan to buy a third property. Will refinancing on my home now hurt me in applying for a third mortgage?
A: To the extent that the refinance improves your fiscal situation, it may actually be a benefit to make the change. However, it would be best to have the refinance transaction completed before you start on a new purchase transaction, just to help keep your credit files and paperwork from changing in the middle of both.
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