Refinancing Investment Properties

September 20, 2022
Published by Bryan Hanley at September 20, 2022
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Banks that Refinance Investment Property

Mortgage rates are historically low, and homeowners have no better time to refinance their properties. A Freddie Mac survey from 2020 revealed that the average interest rate on fixed-rate mortgages had dropped by 50% between 2010 and 2020. Although these rates have skyrocketed in 2022, the current sub-6 % rates still represent a vast improvement from what was available in the 90s and early 00s. Refinancing your property allows you to get better terms than you did when you initially took out your mortgage. However, there are several factors you must consider before refinancing your property, especially if it is an investment property, to ensure that you are making a wise investment. One of these considerations is who to refinance with. You may refinance your property through a traditional bank or other lending institutions. Each lender has its specific benefits […]
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September 20, 2022
Published by Bryan Hanley at September 20, 2022
Categories

How to Refinance an Investment Property

The benefits of refinancing to investment property owners cannot be overemphasized A mortgage refinance enables you to reduce interest rates, redefine the loan terms, and finance new investments. Overall, refinancing your investment property enables you to cut costs and improve profitability. Here, we’ll discuss investment property refinancing and the process generally. Refinancing Investment Properties In real estate, refinancing is the process of replacing an existing mortgage with a new one offering better terms to the borrower. Depending on your lender, you may have collected a loan with a high-interest rate or generally more unfavorable terms. If the rates on the market change and you want to take advantage of the better rates, you can refinance your mortgage to get a better deal. Refinancing allows the borrower to customize the terms of the new deal by; Negotiating a lower interest rate […]
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