Can I refinance an investment property?

[Account Closed]

I bought an investment property almost 2 years ago and I am considering refinancing due to the super-low rates and an increase in my credit score. The goal is to reduce my monthly payment so I get better cashflow. On the mortgage serving firm's website, it says that only primary residence can be refinanced. Is that true for all lending firms?

[Adam Martin]

I just completed one last week so it can be done but it is hard to find a lender who will do it.  I researched online/ called over 15 banks both national and local.  Of those 3 local credit unions said they would do it but 1 was a 20 year arm, 1 was a fixed 20 year, and the last one that said yes I have worked with in the past and they agreed to a 30 year with a rate of 4.75.  Keep looking, avoid big banks, and good luck.