i need to refi my investment property in tennessee it is worth 192000 and I owe 169000...can it be done with no costs?

More info needed, but in general, unless your property has an FHA loan on it now, or if it qualifies for a HARP refi, then you do not have sufficient equity to refinance it using conventional. For investment properties, you need 20% equity if you are doing a "rate and term" refi. But based on the numbers you provided, you only have about 12% equity.. you could refinance and bring cash to the table so your financing at 80% loan to value or lower, but in most instances, it's not the best use of cash funds.. So, because so little info was provided, I suggest you contact a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the larger lenders.. 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 NMLS# 226347