i have two investment properties that i purchased years ago and though they don't have too long to go before they're paid off, i'd like to get their interest rates down via refinancing. can these transactions coincide or is it going to be tricky? by gskrep7463740 from Boston, Massachusetts. Sep 12th 2014
As long as the numbers work, you could do both, on the same day, with the same lender.
...and the loan officer would love you, too.
Do contact at least one broker or mortgage banker covering Massachusetts to qualify you and provide good faith estimates for loans on each investment property.
Absolutely - same day for that matter. If you can follow up with approximate loan amounts, approximate credit score, value and number of units I can follow up with some rate/cost estimates. If not too long before they are paid off, may be worth exploring doing one loan to consolidate both mortgages into one?? MA Loan officer - License #29969
you can absolutely do a refi on multiple properties at the same time.. and it's best you use the same lender for both.. however, if you're near paying off the property, it might not be worth refinancing.. if you end up paying $3000 to refinance, but only save $50 per month, it would take 5 years for you to break even.. typically, with lower loan amounts close to being paid off, it's usually not advisable to refinance.. it's just too expensive.. have your lender calculate your break even period and then make your decision.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
Sure... that in and of itself isn't an issue. You can even refinance all the properties at once. Gets to be a little tricky paperwork wise for your loan officer - but it isn't a problem. www.-SaintPaulMortgageBroker.com
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