Quote:
Originally Posted by S14kouki805
At the advice of my CPA, it is better to purchase at a lower value and higher rate since you will be paying on a lower principal balance. If and when the rates drop again you will be in a better position to refinance since your loan to value will be lower.
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I was just talking to a buddy of mine about this and thought the same thing. I haven't ran the numbers, but it makes sense. You can refinance to get a lower rate, but you can't refinance your balance to a lower amount.