Vermont Mortgages - Investment Property Refinances

Vermont Mortgages - Investment Property Refinances

A lot of investors with Vermont Mortgages on their investment properties have been asking me if they can refinance their Investment Property Vermont Mortgages to take advantage of these historically low interest rates before they disappear.  The answer: a solid MAYBE.  Don't you just love lending nowadays? ;)

There is a wonderful way to refinance those Investment Property Vermont Mortgages right now if the mortgage is owned by Fannie Mae or Freddie Mac, & you can otherwise qualify for a mortgage.  Yes, this means that you have to have the income & documentation to support it, people!  I know a lot of investors used to purchase these properties in the No Doc fashion, but No Doc is gone, dead, kaput, vanished, dead like the dinosaurs, extinct, & don't even try it or ask about it!

But if you have Investment Property Vermont Mortgages on one or more existing properties, you CAN use your income from the rental properties to support your job income, & as long as you have enough assets in the bank, then you CAN refinance them into the 5.5%-6% range, whether it is a free standing SFR, a 2-4 unit property, or even a condo.  Remember, the guidelines to investor density & the other guidelines on condominiums are still in effect on these Vermont Mortgages, but you CAN refinance them.  Also, if you are an investor, & you have multiple properties all owned by Fannie or Freddie, you can refinance each of those Vermont Mortgages once to lower your interest rate, even though you can only get 1 refinance of your Vermont Mortgages done per property.

I hope this clears up a common misconception about refinancing Vermont Mortgages on Investment Properties.  If you are an investor and haven't refinanced yet, and have a few Investment Properties with Vermont Mortgages all in the 6.5%+ range, then take advantage of this possibility before rates go up!  I currently have 6 lenders offering to do these types of Vermont Mortgages in the 5.5%-6% range, but these rates won't hold forever!  Let me know if you need any help.

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