Lost W2 Mid 4-plex Fix-and-Hold. Need to REFI out of HM. Help!

[Steven Silva]

I am looking to do a REFI on a 4-plex in north Colorado Springs. It is stable in a hard money loan at 13%, but I would like to get down the interest rate to around 5.5%. 

This was THE property that once refi'ed would get me out of the rat race as it would provide enough cashflow to focus on real estate full time. However, I was mid fix-and-hold when I lost my job and thus my lender will not refi with me now. 

I am now self employed! I have 2014-2015 taxes completed. I live well within my means. I need to see what my options are.

What are my options aside from selling the property? Any suggestions for lenders? 

[Upen Patel]

@Steven SilvaSorry to hear about your situation. If your "self employment" part of the income was in place and reported as such then you might be able to get a portfolio lender do to the loan as a self-employed individual. But be ready to pay a lot more then 5.5% and lower LVT. Think more like 8.5% (30 yr fixed) and 70-65% LTV.

Good luck.