Posted on: 27th Nov, 2013 12:53 am
If I plan to rent out my second home, will I be able to refinance the mortgage?
Hi Guest,
You can rent out your second home and also get a refinance on it but in that case, the property will not remain a second home. It will become your rental property. The rates and fees to refinance such a loan can be higher.
Thanks,
Jerry
You can rent out your second home and also get a refinance on it but in that case, the property will not remain a second home. It will become your rental property. The rates and fees to refinance such a loan can be higher.
Thanks,
Jerry
Hi Guest!
Welcome to the forums!
I agree with what Jerry has said. Refinancing an investment home is possible. However, you should shop around more in order to get better interest rates.
Feel free to ask if you've further queries.
Sussane
Welcome to the forums!
I agree with what Jerry has said. Refinancing an investment home is possible. However, you should shop around more in order to get better interest rates.
Feel free to ask if you've further queries.
Sussane
Get multiple quotes from multiple companies so that you can easily compare and contrast the rates offered by different lenders. Choose the one that offers best rates and terms.