Getting a mortgage for privately carried loan ?

[Winston Risser]

I have a rental that is financed by the previous owner. He owns it out right . We have the payments going through a local title company.
I am paying him 6% . Would it be worth while to talk to a bank about getting it financed at a lower rate ? I don't know much about that process in a positive or negative way. Anyone have any thoughts on if it is worth refinancing or just leaving well enough alone . Thanks