Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Samir Alrubayai
  • Rental Property Investor
  • Brooklyn, NY
0
Votes |
1
Posts

Refinancing Two Family

Samir Alrubayai
  • Rental Property Investor
  • Brooklyn, NY
Posted

Im looking to pick your brains on a question! Im currently 39 with my first rental property purchase in 2017. I’m currently in the process of refinancing my home from my current mortgage of 27 years at a 4.5 % rate (currently owe $437k) to a 2.25 % rate with 1 point (closing costs and cost of point rolled into the mortgage which will be loan of 450k).

My question is I have a 2 family with Section 8 tenants that income is reported yearly to the IRS. Is this going to affect my tax return due to depreciation? Is this a smart move that I’m doing financially or should I refi to a 30 year (which I really don’t want to start over again lol)

How is this going to affect me in the long run tax wise?

Loading replies...