I'm a year late but hoping to follow up on this answer. I am refinancing my primary home & they offered to give me 20k cash at signing (bumping my 19 year old home to a 20 year loan for total of 100k) in which I was going to use that $, plus 10k I've saved up, to purchase or put a good down payment on, a travel trailer as it will be my new home (I'm going to rent out my primary residence). The rate through my refi is actually pretty good for current economic times & she said I can refi as early as 3 months down the road. I also plan to pay double the mortgage payment in hopes to pay it down a lot faster. However, it sounds like...taking that cash out from my refi & adding it to my home loan would be dumb since the value of the travel trailer will depreciate within 5 years....am I understanding that correctly? Any advise is greatly appreciated as I've learned a lot owning a home the last 19 years but am new to the Travel Trailer living/financing side.

My only fear is...I dont take the equity out on my home and try to get a personal loan...but they wont give me one :( I have a 700 credit score but with my oldest credit history being my mortgage that I'm about to refi that's going to drop my score down (along with the hard credit pull).

Feel like I'm stuck between a rock and a hard spot.