Re-Finance Whole Portfolio

[Samuel Brant]

Recently I have been trying to refinance my whole portfolio of single-family homes. The current bank I am working with says they are to the max LTV at 60% with my current portfolio, let's call them bank 1. While I have called around and found I can get up to 80% LTV at other commercial lenders in town, let's call them bank 2.

These are the two options I am running into either stay where I'm at with Bank 1 and not be able to buy any more investment properties.  Or option two is to refinance my whole portfolio with Bank 2, get a .5% higher interest rate at 3.75% compared to 3.25% with Bank 1. Additional 5k closing costs to refinance and shorten the loan term from 30 to 25 years?

Additional Factors

- Being able to potentially double my portfolio changing to bank 2

- Losing $400 Dollars a month in cash flow changing banks initially

What would you guys do if you were in my shoes? Any suggestions?

Thanks, 

Sam