On my rental property (duplex) the 10 year interest only loan and HELOC are about to expire in 2017. I need to refi to avoid the high interest rate before then. I have an excellent credit rating and my debt to income is 28%.
Should I refi now (before 2016) or wait another year?
Personally I would do it now. No one can tell the future, but it's assumed rates are going up in the near future and the market is high now so your appraisal should come in well. Good luck
I agree with Josh. Combining the 2 loans into 1 now at today's rates and today's value is going to be more beneficial to you than waiting to see what the future holds. IF it's better in 2017, then you can refinance again if you want to. If it's worse, you'll be glad you did it in 2015. If you need a referral for a great lender, let me know.
I would do it now. It's highly unlikely that rates will go down and very likely that they will see an increase. Once they go up you've waited too long.
Now is the time. Rates can only go up.
I had the same question as you about a month ago on my primary residence. I'm in the process of refinancing right now.
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