Investment Property Refinance

investment property refinance

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Newfi can help you refinance your investment properties for major financial goals such as:

  • Increasing rental profits by reducing monthly mortgage expenses
  • Getting cash out to buy additional rental properties
  • Making major property improvements or repairs
  • Financing other personal investments or expenses

What are current investment property refinance rates today?

Refinance interest rates vary depending on your credit, income, and other factors. Rates can change every day, so it’s smart to find out what rate you qualify for today. Get your rate now

What are the advantages of refinancing your investment property?

  • Reduce your monthly mortgage expense and increase cash flow
  • Access cash without selling your real estate properties
  • Get money for any purpose at a lower interest rate secured by your investment property
  • Use cash to help increase the value of your home with improvements or repairs

What are the disadvantages of refinancing your investment property?

  • Your new mortgage balance may be larger than before
  • You may have a higher monthly mortgage payments or pay more in interest overall if you increase your rate or loan term
  • You may incur refinancing fees

Talk to us to get your personalized refinancing consultation >>

How does investment property refinancing compare to typical owner-occupied refinancing?

Because of the increased risk surrounding non-owner occupied real estate, lenders have higher standards and require higher interest rates from borrowers looking to refinance their investment properties. Interest rates, for example, may be 0.5% higher than those for typical primary residences, and the amount you can borrow will have lower loan-to-value ratios (usually no more than 75%). Lenders will also require higher credit scores (660 or higher) and well-documented income and cash reserves. Plus if you’re seeking to get cash out of investment properties, you should have a reasonable amount of equity in your property — at least 30 to 40%. Talk to us at Newfi Lending and we can walk you through requirements.

How does a cash out refinance work for investment properties?

With a cash out refinance, you essentially take out a new mortgage that would cover your current loan balance, any additional cash you want to take out, and any other fees you want the loan to pay for. After the refinance closes, you pay off your old loan balance in its entirety and use the remaining cash for whatever you like. You would also start making monthly payments on your new mortgage.

What would be my new monthly payment on a cash out refinance?

Your exact monthly payment depends on the interest rate you qualify for, the term you select, and other factors. Contact us to review your options and calculate your new payment.

Why trust Newfi Lending with your investment property refinancing?

Newfi is a direct lender with years of experience in mortgage refinance. We offer a wide variety of investment property loans for different borrower types, and we can work with you to find a solution for your situation. Give us a call at (888) 316-3934 and see just how helpful we are!

How can I get more information?

Talk to us at Newfi Lending. We’ll get you a rate quote and review your refinancing options.