How do i refinances a house that i own but rent out?

Aida
Investors are very strict, when it comes to refinancing Investment Properties. Depending on what you are asking for, you may not be able to refinance it. Maybe your lender is just saying if it were a primary residence it wouldn't be a problem.

Clayton
Talk to a Representative of the financial institute, the house you live in or rent it out have no different as long as you are the owner.

Arnette
Just like any other house...the process is no different.

Darcey
You absolutely CAN refinance a home that you do not live in. The difference is the rate and terms as indicated by the assumed risk to the lender.There are three classifications of home ownership with regard to mortgages and I have listed them in order from least risk to the lender (and lowest rates & fees) to highest risk category (highest rates & fees).1. Primary Residence. This is the house you live in and will get you the best rates and terms.2. Second Home. This is a home that you own that you DO NOT rent out. Many people try to get an investment property to qualify as a second home and that is fraud.3. Investment Property. This is a property that is rented and sounds like your property. These loans have more strict guidelines (lower loan to value ratios, and higher credit guidelines). They also usually carry higher rates and fees.Don't let anyone tell you it can't be done, or cant be done cheaply. It's all about what you negotiate.

Arlena
You can refinance an "investment property" just like you can refinance any "primary residence". However, the refi guidelines on an investment property are more strict than a primary residence refinance.If you provide a little more info I can help you out...What is the current loan balance?What is the current interest rate?What type of property is it? (single family or multifamily)What is the estimated value of the property?What is your credit score?... repost or email me with the answers.

Annamae
It all depends on your value and you fico score. The loan they should do is a non-owner occupied. But usually the rate is higher.