From Yahoo Finance: 2025-05-13 12:38:00

Refinancing a rental property can lower ownership costs and boost cash flow. Lower interest rates can reduce monthly payments and save on interest over the loan term. Shortening the loan term through refinancing can lead to higher monthly payments but significant cost savings. Switching from an adjustable-rate mortgage to a fixed-rate mortgage can provide predictable monthly payments. Consider cash-out refinancing to fund renovations, upgrades, or consolidate debt. Refinancing can also help expand your rental property portfolio by leveraging equity for additional investments. Ensure you meet credit score, DTI ratio, and LTV ratio requirements before applying for refinancing. Calculate the break-even point to determine if refinancing is worthwhile based on your costs and savings. Shop around for lenders offering the best deals to make an informed decision on refinancing your rental property.



Read more at Yahoo Finance: A step-by-step guide to refinancing your rental property