Refinancing my Rental Property in Louisiana

[Lemanuel Turnipseed]

My only property, is a 3 bed/1.5 bath single family home (SFH), under my LLC. My interest rate is a five year balloon loan at 5.9% with a final payment of $33,258.21 due on October 5, 2023.

Total collateral value: $92,000

Original Note: $64,150

Payoff: $52,794.67

Pledge LTV: 57.14%

I’m with a local bank, but wanted to use if I could get a lower interest rate and a 30 year loan in my name? Would this be wise? All advice and financial strategies are welcomed.

I also want to use the equity in this property for my next SFH or possibly multi-plex.....

Lemanuel