Can I refinance on a rental property right now. I have a first and second. mortg.I have a first mortgage of 401,000 and a second of 45,000. The a.r.m. on the first will adjust in 2011 and the second is 11.9%. Due to the fact this is a rental property and it has a jumbo loan tagged to it. The house is worth approximately 246,000 per this site.March 04 2009 - Woodland00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.