Refinancing

[Tim B.]

I'm looking for some advice on refinancing a rental house I have. It currently has about 26 years left at 4.125%, we refinanced it as a primary residence when we were living in it 4 years ago.  I was looking at refinancing again when I saw rates in the mid to low 3% range but that rate jumps up some if it is an investment property. Is that a pretty standard thing? The house is worth about $215k and the loan will be for $140k.

[Charlie Fitzgerald]

I would cash flow the payoff in 15 years without refinancing and save the costs of refinancing.  Your net spent will be lower I bet, and your end result will be the same.  Free and clear in 180 months.  I would not refinance...