Refinance Investment Property
Refinancing an investment property is a great way to maximize its wealth-enriching potential. Whether you’re refinancing to lock in a lower rate, reduce the mortgage term, or get cash out to make improvements, Ark Mortgage can help you get the most value from your property investments.
We offer investors Multi-Property discounts when they purchase or refinance more than one mortgage at a time. And our Cash Advantage Program allows you to refinance qualifying cash purchases faster than the traditional six-month wait.
What will my monthly mortgage payment be?
Calculate monthly mortgage payment scenarios on your investment property in seconds. Choose different rates and terms to calculate how affordable it could be to buy your new investment property. See how much interest you can save over the life of the loan by altering length of term, and enter prepayment amounts to calculate their impact on your overall expenditure.
Real Estate Investor FAQs
Required income for financing your investment property will vary depending on the amount of the monthly mortgage payment and other debt considerations. The total debt-to-income ratio (including the mortgage payment) generally cannot exceed 45%. Consult with your Personal Mortgage Advisor for information that pertains to your situation.
Typically, you will have to wait through a six (6) month seasoning period prior to using a cash out refinance to take equity out of your investment property. There are programs, such as Ark’s Cash Advantage Program (CAP), that may allow you to cash out immediately after your purchase. Contact a Mortgage Advisor to discuss the specific programs and their guidelines.