Refinancing Rental Property with HELOC

[Jeff Cliff]

Hello,

I have a mortgage and HELOC on primary home. I opened HELOC about 8-9 months ago and has some balance on it. Now, I am converting primary into rental property and moving into my second home.

I have not been able to take advantage of really low interest rate on my primary due to HELOC making LTV over 80%. However, in near future I should be able to bring LTV down to 80% but by then it wouldn't be my primary property, it would have turned into investment property. My understanding is investment properties have higher interest rates compared to primary/secondary home. In that case, is there any other way for me to reduce my interest rate and there by monthly payments?

Thank you in advance for your response.