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Updated about 4 years ago,
Multiple Rentals < $100k each | Refinance Advice?
Hi all,
I'm seeking advice as I'm looking for 15 year terms on any/all of my rentals:
The first two have a remaining loan balance of $77k & $70k @ 5.25%
Then another three ranging: $68k, $84k & $94k @ 4%
In total I have 391k outstanding on my rental properties.
I'm wondering if there are any good lenders I should be considering in an attempt to cost effectively refinance, and get my rates down.
OR if there is better ways I should be approaching this, for example; is it possible to finance 390k, pay off the properties and rather pay that ONE loan back?
For framing, I have AT LEAST 30% equity in all properties, and really good equity in some other houses I'd also be willing to put up as collateral.
Really appreciate your time in reading this, and forgive me as I'm a first time poster, so I hope I hit all the right notes..