Refinance a house hack 4plex for another house hack 4plex

[Daniel Hinojosa]

Good afternoon everyone. Hopefully someone has done this before. 12 months ago I bought my first real estate investment. A 4plex with an FHA loan. I am currently living in one unit and renting the other 3 (house hacking). I want to get started on my 2nd deal one year later (which is now) and want to purchase another 4plex to house hack with an FHA loan. I visited a local bank today but they want to do a conventional loan at a 6% interest (I currently have a 4.25%) and do a 20 year fixed rather than a 30 year fixed. My monthly payment will now increase to $320 a month washing away my cash flow.

Has anyone done something like this before and what methods have you used. I really want to go with another FHA loan with the next 4plex but the numbers need to make sense when refinancing the one I currently have.

Thank you very much in advance and Happy New Year.