Trying to refinance my rental property on Long Island...Hi, I bought a rental property in Mastic Beach on Long Island in April, 2011 for $75k. For a quick deal, I used private money, 16% interest-only. I have totally renovated it ($20K), put $20k down, have a great tenant, and want to refi the $55k balance. My credit us just under 700 - perfect payment record, but used credit cards to renovate and close, so my debt ratio is too high for bank. Of course, with a better interest rate, I'd be able to pay down the cc debt much faster... Any ideas? Thanks.March 28 2012 - New York0YesReport 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.