I owe $30,000 on my mortgage and want to refinance to a lower rate, around 3%, and take out $15,000 in equity. Is that possible?

I only owe $30,000. I want to lower interest rate to the maximum possible-3%. with cash back of $15,000, adding a second co-buyer( borrower) with good credit if will make rate better. It would be a fixed rate at 15 or 30 years, depending on the monthly payment. I currently have a fixed 9% rate-30 years mortgage with a life of 16 years,

Asked by Carlos
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