With today’s current interest rates remaining at an all-time low, many investment property owners are considering refinancing. Why?
Because investment property investors – and especially those who have rental properties – understand that refinancing may provide them with a good way to reduce their overall costs.
Moreover, investment property refinancing may provide the additional benefits of increasing the amount of income they receive each month and maximizing their return on investment.
According to information provided by the National Association of Realtors, if in 2000 an investor purchased a single-family home for $143,600 – today this same home would be worth $213,400. This means they “own” $69,800 in home equity.
This makes refinancing an investment property very attractive, as it may provide investors with the opportunity to draw on their property’s equity to finance a second property.
If you are an investor that is interested in refinancing, we recommend that you talk with your Forthright Funding mortgage specialist to determine if this option makes sense for you. We can be reached at (855)351-9522 during normal business hours.
If you want to free up more cash each month, you need additional flexibility making your monthly mortgage payments, or you want to purchase another property – then choosing to refinance your investment property may be just the answer you need.
However, if you want to pay off your investment property as quickly as possible, then you may want to consider refinancing but choosing a shorter mortgage term – a 5-year ARM or a 20 or 15-year fixed are a few of the available options we offer.
The question you need to ask yourself – one that we would be more than happy to assist you with – is whether both your financial and personal goals are short or long term. If you’d like to play with some numbers, see our calculators.
Discover The Difference
At Forthright, we will always treat you like a neighbor and not like a number. So, if you're ready to put down some roots or transplant the ones you have, please feel free to give us a call at
7047 E Greenway Pkwy
Scottsdale, AZ 85254
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