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Updated about 9 years ago on .

Daniel Padilla's profile image
Daniel Padilla's profile image
Daniel Padilla
  • from Olympia, Washington
  • Member since Jan 16, 2016
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Daniel Padilla's profile image
Daniel Padilla's profile image
Daniel Padilla
  • from Olympia, Washington
  • Member since Jan 16, 2016
Connect
Daniel Padilla
  • Olympia, WA
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General Real Estate Investing

Refinancing a rental property

Daniel Padilla
  • Olympia, WA
Posted

Choosing the best option to refinancing a rental property.  My current rate is 5% and the original loan is at 255,000.  I currently owe 226,000 with 23 years left.  I plan on keeping this property as a rental.  Does it make sense to apply for a 25 or 30 year loan at 3.35%. Long term goal (7years) I would like to supplement my income with the rent I receive. 

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