Is this a good time to refi a Multifamily

[Moncy Samuel]

I would like to seek advise about refinancing Multifamily duplex rental property. Interest rate is 5% and loan is just below 100k.

When I talked to a loan officer, he discouraged me. Would like to hear your thoughts and experiences.

Credit score is above 800+

[Stephanie P.]

Originally posted by @Moncy Samuel:

I would like to seek advise about refinancing Multifamily duplex rental property. Interest rate is 5% and loan is just below 100k.

When I talked to a loan officer, he discouraged me. Would like to hear your thoughts and experiences.

Credit score is above 800+

A lot of the rate is going to hinge on two things in the conventional world, loan to value and cash out. If you're looking for a conventional investor property refinance, keep your LTV as low as you can and limit your cash out to maximize your rate. Having said that, rates are at historic lows. Many people are saying they want to leverage their properties at the highest LTV they can, even if it drives the rate higher. Still more people are maxing out the LTV by buying the rate down because they are convinced the values are going higher. It's all up to you. Find a lender you're comfortable with and ask them for all of your options.