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Refinance an Investment Property the Easy Way

Midland Mortgage Corporation will help you refinance an investment property the stress-free way.

Are you looking to refinance an investment property? You’ll be surprised at how stress-free the process can be when you come armed with the right support system. Speak with our residential mortgage loan experts before you apply. We have access to a myriad of lending products perfectly suited to lowering rates and drawing on equity in your real estate projects.

Answer these questions to see if refinancing is the right move for your rental:

  • Do you have at least 25% equity in the property?
  • Refinancing an investment property can be riskier for a lender, because your payments typically depend on third parties paying their rent. One way to prove you can handle the burden is by maintaining a high equity value in a home. The majority of programs require 75% loan-to-value ratio or lower, though we may be able to help those with special circumstances.

  • Do you rely on rent payments for income?
  • Most lenders will not allow you to claim 100% of your rental income when qualifying for a loan. In fact, depending on your renter and your record keeping, you may not be able to claim any of your rental income at all. The potential need for future financing is an excellent reason to accept payments by check only, so you can quickly and easily prove you have a reliable rental contract in place.

  • Does the property have a second mortgage?
  • This is one of the trickier obstacles investors face while refinancing, and it’s exactly the type of situation our residential loan experts avoid. Taking a second mortgage on investment property can back you into a corner. Even when you meet loan-to-value ratios, you may run into problems with your secondary lender. That’s not to say the situation is impossible, but it’s complicated enough to call in the professionals with the most experience right away.

Would you like more info on all of our loan programs? Talk with a Midland Mortgage Corporation consultant to get the down-low.