Refinancing a rental property

by | Sep 4, 2021 | Homework Help

You are considering refinancing a rental property of yours.Based upon the following data would you refinance? (Show Work) (5 points)           Current L..;@ 7.5 interest           New L..;@ 5.5 interest            Financing costs on new loan:           1 point origination fee                                                                       1 point discount                                                                       $600 closing costAssume a 20—year term on both loans. No prepayment penalty on current loan.Investor’s desired rate of return is 10%.Expected holding period of 5 years.

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