If you own an investment property, you already know that getting a mortgage for this type of property is different than a refi of a primary home. If you recall, the qualifying requirements for getting an investment loan are more stringent than a primary home loan.
Let's take a look at everything you need to know about refinancing an investment property.
Why Refinance Your Investment Property?
Owning a second property comes with costs, and some may feel that these additional costs tie up too much of their free cash flow. Others choose to refi to free up some money for repairs or improvements to the property.
If this sounds like you, it could make sense to refinance into a better rate --possibly lowering your mortgage payment --and…