Is it possible to Refinance while a property is listed for sale?

[Jake S.]

Hey all!

I have a STR that I recently did the BRRRR method on. I started renting it out back in June, and the time to refi (6 months) is coming up. I recently listed this for sale, but am also interested in the mean time in Refinancing out of the hard money (which doesnt come due until April), simply to lessen my monthly overhead until it sells.

Given the current market, who knows when thatll be but given summer time is over, it may pick up.

Excluding the prepay penalties, etc. is it possible to refinance this while its also listed for sale?

[Matt Devincenzo]

With MOST lenders the answer is likely no. But another consideration, how much will you save per month and how much would the refi cost in fees? If it's $10K to refi and you'd save $2K/mo then how realistic is it that you sell within 5 months?