What are the downsides of refinancing ?

My house has gone up almost $100,000 in value since we moved in 3 years ago. I’m getting a lot of offers to sell and even more offers to refinance. I’m being offered a lower interest rate than I currently have as well as $20,000 in cash. I’m very new to this and I am just wondering what the possible downsides of this could be?

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My house has gone up almost $100,000 in value since we moved in 3 years ago. I’m getting a lot of offers to sell and even more offers to refinance. I’m being offered a lower interest rate than I currently have as well as $20,000 in cash. I’m very new to this and I am just wondering what the possible downsides of this could be? submitted by /u/slayerofgods615 [link] [comments]

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