Knowing when to refi

[Rachel K Reiman]

I purchased two more rental properties in October with HELOCs and one is rented and the second will be rented within a month.  When is the best time to refi?  I believe rates will come down in the spring, but I really want to clear these HELOCs so I have some funds to purchase again should something come along.  Thoughts??

[Robin Simon]

Quote from @Rachel K Reiman:

I purchased two more rental properties in October with HELOCs and one is rented and the second will be rented within a month.  When is the best time to refi?  I believe rates will come down in the spring, but I really want to clear these HELOCs so I have some funds to purchase again should something come along.  Thoughts??

Generally when it comes to financing terms, most lenders have much more improved terms and easier qualification at the 6 month mark (seasoning from date of purchase of the property to the refinance date). Some lenders will offer the same or better terms earlier than that, so shopping around is good and asking top of the list if they have BRRRR refinance deals with less than six months would be great to ask