Refi Investment Property

Asked by ben pearce, Milton, FL Sat Feb 2, 2013

Are there any options available to refi an investment property in Milton, FL? Current value is between 110k to 120k. Current mortgage is 83k at 5.1%, 30 year loan, purchased in 2004 for 106k. Has been an investment property for 2 years ($900 a month). Would like to lower interest rate and change to a 15 year note.

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Barbara Murphy’s answer
Barbara Murp…, Agent, Pace, FL
Sat Feb 2, 2013
Hi Ben,

I'd recommend you check with a knowledgeable lender from our local area in Milton, Pace, Pensacola, or Gulf Breeze, FL.

Kasie Copeland at University Lending is one such lender I would recommend. She is extremely knowledgeable about the many loan products available and would be a great choice to discuss your situation with. Here a link to her company and profile information: http://www.university-lending.com/KCopeland.html

Please let her know I referred you and good luck to you in your refi endeavors!

If I can help you in the location of additional investment or vacation property in the area, please contact me! I also lease and manage property, should you need a property manager or assistance in finding future tenants.

Thanks,
Barbara Murphy, Broker
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Tim Moore, Agent, Kitty Hawk, NC
Sat Feb 2, 2013
Can't see why you ae not talking with lenders to ask if they can do a refi for you, it sounds like you can. You just need to start the process and speak to some lenders. It will all depend on the appraisal in todays market.
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