Refinancing Out of State Investment Property

[Steve Testori]

Howdy, and thanks in advance for any advice/insight you may offer -

I live in MA, and have a single-family home in Arizona I'd like to refinance; it was purchased in 2011 for $124,000 and homes in the area are presently selling in the $223,000 range. The 30 year loan is at 5%, and I'd like to see if I can do better; the bank (Chase) can only go to 4.1% for a 20 year loan ... I realize banks typically see investment properties as riskier and I wouldn't expect to get the same rate as a primary residence, but after rolling in closing costs, my payment hardly changes for the same period of time, pretty much negating any point in going through the process. I make a decent income, have plenty of assets and my credit score is 790. Can I do better?

Thanks again,

Steve