You can always refinance the rate, but you can’t refinance the price.

This would typically involve taking a cash-out refinance or a home equity line of credit (HELOC) on your current rental to access the funds needed for the down payment on the new property.Regarding the lender fees, having two mortgages, one for the cash-out refinance and another for the new property, could result in additional fees, but it’s not necessarily double the cost.

My goal would be to either refinance(if the rates drop) or to pay off the loan within 7 to 15 years.

My cashflow (right now) is neutral (I plan to refinance down when rates drop), and my initial plan was for appreciation to grow my net worth.

I am looking to refinance an existing HELOC to increase the line of credit.

Hello Lesley, Have you thought about using a DSCR loan to do a cash out or rate and term refinance to recoup the out of pocket money you have spent on the property.

**Exit Strategy**: Make sure you have a solid plan to refinance or sell the property before the loan term ends or in case the lender enforces the due-on-sale clause.Being diligent with these aspects will help avoid potential pitfalls in your first Subject To deal.

(This allows us time to raise rents plus appreciation over 5 years to then do a portfolio refinance to pay back the line of credit). 

I have a lender that was willing to do a refinance at 80% LTV on a DSCR loan, so after the escrow account for taxes and insurance, closing costs and everything, I got a check at closing for $2,201.91.

If the lender won't budge you can always refinance the parcel containing the existing home and remove the developable parcel from the new loan request.