If you were getting cash out or reducing your rate by more than .5% or getting out of an Arm or balloon, those would be other reasons to consider a refi.

Treat this like an arms length sale. 

I’m not gonna lie, she had to twist my arm to even think about real estate investing but after binging podcast after podcast I’M HOOKED!!

@Cassandra Sifford If you need to give your credit a quick shot in the arm. 

The way that it works is they are daily interest loans, generally have no payment requirements during the life of the loan, however the equity of the property gets ate up every day. the bank is probably not going to ask them to leave the property when equity position is upside down. short sale is usually an option via arms length transaction, or payments can generally be made for loan paydown and eventual refi once get loan to a more favorable LTV. feel free to PM if you have questions!

Payed an arm and a leg in taxes this year (I know not a bad problem to have) and want to reduce the cost next year.

Then I called with Republic, and the VP I was talking with was also a new investor, so that was cool, but the best he could do is a 20yr amoritization, with a 10yr ARM and then a balloon payment.   

My options through this local bank are either a 20, 25, or 30 year 5-1 arm all at 5.25%.

My experience was positive; I am sure that the agent made all the difference, regardless of how she came recommended.Of potential interest: A couple of the offers - “insultingly” below my asking price - were from some LPs/LLCs, one of which was definitely a REI arm of a large private equity firm.

Make sure it explicitly explains the process for termination if you are unhappy with their services, but especially if they violate the terms of your agreement.3.