- BUY A
- SOUTH STATE
Is it time for an investment property refinance? Owning investment property means trying to get a strong ROI on it. After a few years you might find that the ROI is not where you feel it should be. If this is the case it might be time to consider a refinance of the investment property. Check with Mortgage Options for help with the process of handling an investment property refinance. Here are some tips:
1.An investment property refinance can give you cash. Taking money out through the refinancing might make sense for some investment property investors. After you’ve built up several years of equity, you can probably arrange to do a property investment refinance and end up with more than you owe. The extra funds will be disbursed to you to do with what you like.
2.An investment property refinance might pay dividends later. Once you have the funds from the refinance, you might want to consider upgrading the property. It will generate more money for you in rents or leases if it is well maintained. You will not only have the funds to make cosmetic changes, but also to make any necessary structural changes. The more upgraded the property, the more you can charge for rent.
3.Make sure you’ve done an analysis before refinancing. Before thinking about refinancing you should perform an analysis of how much time would elapse before you got even on the refinance. For example, how long will it take to offset refinancing rates? You should try to ensure that the refinancing rates are less than they are for the existing loan.
4.Other benefits of investment property refinance. The investment property refinance may provide a number of additional benefits, including:
•Debt consolidation from credit cards, credit lines and other financial obligations.
•Reducing the length of the obligation and saving interest you’ve paid for the length of the
•Changing an adjustable rate mortgage into a fixed-rate.
Now is a great time to consider an Investment property refinance. Rates are at historic all-time lows and credit markets have loosened in the past couple of years. Contact Mortgage Options, Inc. to discuss which mortgage options are right for you.