Refinancing 4 loans, have some ideas and looking for feedback.

[Will Anthis]

Hey everyone,

I think this might be my first post on BP!

I have listened to so so many podcasts!

I'm going to try and provide as much data as I can but if there is more you need to know, just ask.

I'm in the process of refinancing my 4 mortgages for 4 different SFH to take advantage of these low rates.

 My current rates vary from 4.5 to 5.75.  I don't have any other loans

One of these is my primary and the other 3 are investment.

I am currently just over 10 years in to the 30yr fixed on each of the 4.

I have come up with a couple strategies I would like some feed back on.  Also would love to hear other strategies as well.

My goal is to put myself into a position to buy more properties if/when opportunities arise.

For this reason, I am pursuing 30yr fixed rather than 20 or 15.

Here are the approximate stats of each property, again all are 30yr fixed, 11 years into the term:

Primary Valued at 500K loan balance 170K Rate 4.5%

Investment 1 Valued 350K balance 80K Rate 5.75%

Investment 2 Valued 375K balance 120K Rate 4.75%

Investment 3 Valued $500K balance 90K Rate 4.75%

My 2 loan scenarios I have come up with so far:

1. Refi all 4 properties with 30yr fixed loans.  This will allow me to pay down at what would equal a 15-18yr monthly payment if I choose while having flexibility and debt to income of 30yr in eyes of underwriters on future loans.

2 Refi only primary and Investment 3 with 30yr fixed loans.  Pull enough money out of Investment 3 to pay off investment 1 & 2.  Like scenario 1, pay at 15-18yr payment......  Pros-Avoid closing costs on 2 loans.  Cons-Properties owned outright could be a liability for any possible lawsuit from a renter.  That's what I have read.  I do have an umbrella policy in place but maybe that's not enough.

My big picture goals are to cut down the interest I would be paying on these 4 current loans if I did nothing and kept the loans as they are.  Also, taking into consideration I want to be as attractive as possible for borrowing on future residential properties.  Not looking at commercial in my future.

What do you all think?  What are some other ideas?  Other pros or cons to either/both scenarios?

Going to be making a move in the next 2 weeks and I'd love some input.

Thank you all!

Will