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Can you refinance a mortgage if you're renting the house out?

I own a house which I rent out. I'm thinking about refinancing, but I'm unsure whether you can refi a house which isn't owner-occupied. Anyone know?
  • September 13 2011 - US
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Answers (4)

Best Answer

Profile picture for Lita Collins
Yes you can! The loan to value ratio may be different than if you were re-financing your owner occupied home, but I just did it myself. Rates are so great right now that I am saving a lot of money each month.
  • September 13 2011
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Yes I'll definitely use Zillow Mortgage Marketplace if/when I refi. That's where I did my last refi 2 years ago, but back then I still lived in that home. Now it's rented out.
  • September 13 2011
  • 2Yes

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Profile picture for Blue Nile
Of course one can refinance; but for non-owner occupied, the maximum loan to value ratio is lower, and the terms are not as good.

Still it never hurts to get some quotes since your site does so well at that.
  • September 13 2011
  • 2Yes

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Yes, you do but it is depended on your DTI, LTV and your credit score.
Click on the followed link, select your state on the 'Find mortgage' box then hit the 'GO' button.
http://www.zillow.com/

  • September 13 2011
  • 2Yes

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