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Yes, my understanding is that it will be treated as investment property, so the rate will be 1 - 2% higher than if you were living in the house.

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21y ago

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Should you refinance first home before buying a second home to be a primary residence and then renting out the first?

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Is it always possible to refinance a mortgage?

No, it is not always possible to refinance a mortgage. Factors such as credit score, home equity, and current interest rates can affect eligibility for refinancing.


Where is it possible to refinance a home mortgage if someone has bad credit?

There are many places a person can go to refinance a home mortgage if they have bad credit. Bad Credit OK and Quicken Loans are two websites a person can use to help refinance their home mortgage.


Is it possible to refinance a mortgage within 6 months of purchasing a home?

Yes, it is possible to refinance a mortgage within 6 months of purchasing a home, but it may be challenging to find a lender willing to do so due to the short timeframe.


Is it possible to refinance only the amount that is owed on a home or do you have to refinance at the current home value?

You can do either, but some credit sources place limitations on the minimum amounts / minimum percentages that they will loan.


Is it possible to refinance a home even with bad credit?

Yes, it is possible to refinance a home with bad credit or no credit at all. However, it isn't that easy and interest rates are often quite a bit higher than they are for those with great credit.


How can I refinance my home without equity?

To refinance your home without equity, you can explore options such as a cash-out refinance, a home equity loan, or a government-backed program like the FHA Streamline Refinance. These options may allow you to refinance your mortgage even if you don't have significant equity in your home.


Is it possible to refinance a car?

Yes, itis possible to refinance your car if your financial situation requires it. If you were to refinance your existing car loan you can substantially lower your monthly payments.


Can you refinance your home loan more than once?

Mortgage refinancing can be done more then once. When looking to refinance your home loan make sure the closing costs don't offset the possible saving of the lower interest rate offered.


Is it possible to refinance a Parent PLUS loan in a student's name?

No, it is not possible to refinance a Parent PLUS loan in a student's name.


Where can one find information on a equity home loan mortgage refinance?

When looking to find information about equity home loan refinance mortgages it may be possible to find the ideal mortgage refinance package to suit the required customer needs by visiting such websites as Age Partnership, the Money Supermarket comparison site.


Can your refinance if you don't have the equity in the house?

It may be possible to refinance your home if you do not have equity. I have done many of these loans. There are currently programs for both Freddie Mac and Fannie Mae that will allow you to refinance even if there is not equity. There are Loan to Value limits, but they are well over 100%.