Newsflash: Update on using my equity to buy investment property

I just talked to a lender and they said I can do a cash out refinance and take out 40-50k which would give me roughly enough for a 200k house which in my town is pretty decent. The loan apr on the investment property would be 5.125 is that really high?

Read more at https://www.reddit.com/r/RealEstate/comments/6lw7pj/update_on_using_my_equity_to_buy_investment/?utm_source=ifttt

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