All Forum Posts by: Shamus Gamelo

Attempting to refi. Interest rate I was offered is 3.5 % from 4.3% but I am unable to get rid of pmi. Mortgage payment will go down 200 a month and I will get only a couple thousand back. Is it worth it? Is there a way to get a better deal?

@Jay Chang I was thinking if I moved in and made it a primary residence i could get away from the “ income property “ title and be able to put less down.

@Danny Randazzo they are asking 425k and the two sides rent for 1600 so not a whole lot of short term potential to pitch to anyone.

@Tj Hines I’m mainly focused on seeing if I can find a way around the 25% down part. Because if this property doesn’t work out it will just be on to the next. But for some back story she purchased from a family friend put a small amount of money into it and is trying to get a quick return and is probably already nervous about trying to fill two apartments in November.

I’m in need of some pretty hasty advice. I might just be thick headed here but as I was looking into refinancing my first multi the h/o next to me calls and tells me she is interested in selling. But I’m in Fairfield county (mentioning because I could hardly afford the first one) and this being my second investment property I have to put down 25%. Is there a way around this?