From the initial numbers, sounds like you're doing great in terms of low-cost living in a HCOL area!
Re your question: can you give us more information?
What is your house-hacking arrangement? IE, renting out rooms in your house, a duplex, etc.
What is your long-term plan for the house? (keeping the house as a primary, eventually moving in 5 years, converting it to a rental, etc.)
Are there any upcoming life circumstances that may effect your plans? (serious partner that your planning to marry next year, potential job transfer, etc)
What would you do with the cash out funds? (invest them in more real estate vs invest in index funds)
I think understanding the context and your long term goals would help determine whether to cash out, or just refi to a lower rate.
Really appreciate your response NonprofitER
Yeah I am in the greater DC area living pretty dang close to free.
What is your house-hacking arrangement? IE, renting out rooms in your house, a duplex, etc.
** Renting out 3 rooms in a townhouse, I have the bottom floor of three floors ** I could also rent out this portion of the house and net an additional $750 a month...
What is your long-term plan for the house? (keeping the house as a primary, eventually moving in 5 years, converting it to a rental, etc.)
**My general plan is to keep the house so long as I am also in the DC area. I imagine I will sell it in less than 10 years?**
Are there any upcoming life circumstances that may effect your plans? (serious partner that your planning to marry next year, potential job transfer, etc)
**There is a possibility I move into a partners condo**
What would you do with the cash out funds? (invest them in more real estate vs invest in index funds)
** I have a second BNB property in another city. Open to investing in another property but also index funds sound kinda nice, or something that is less of a lift.
!!Again really appreciate your thoughts and advice, just trying to get some other eyes and thoughts on the best strategy moving forward!!