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Updated almost 9 years ago,

User Stats

22
Posts
5
Votes
Marichelle Lao
  • Investor
  • Glendale, CA
5
Votes |
22
Posts

refinance 8 yr old out of state rental without source of income

Marichelle Lao
  • Investor
  • Glendale, CA
Posted

I purchased my rental 8 years ago and I've been continually receiving refinance offers from my mortgage company. My rentals are less than what i paid for them but they are being paid by the tenants with a cashflow of about $50/month. My questions are 1) is it worth it to refinance for a lower interest rate 2)will i be able to refinance if i don't have a w-2 job 3) should i just leave well enough alone  its tempting to refinance if i know that there are more benefits and if i know that my credit won't take a hit. I'm not sure if I'm asking the right questions but maybe someone can add some insight and lead me in the right direction to find out more information. Thanks.