u/currentduck25337

Hi all!

I currently have a mortgage rate of 2.9% with a balance of 250k. The house is worth 750k. I'm moving to a new home for which mortgage is already approved. My main question is what approach should I take with the current favourable mortgage given that my sibling is planning on stay here. I'd ideally like to get my equity out while at the same time passing onto the 2.9% rate onto them. This is not an assumable loan.

I understand the situation is tricky and I may not be able to do it all at the same time, so please provide suggestions for this situation. Thank you