Hi! I would like some help with selecting a lender to re-finance a rental property we own. There are so many options out there, I felt overwhelmed when I started searching, so I am asking the expert Mustachians! Here is the background. My husband and I bought the property in 2006 or 2007 when anyone could get a mortgage. We purchased it for zero down and still have our original loans. One is an 80 percent loan at 6.25% and one is a 20 percent loan at 8.75% (ouch!). We have never missed a payment and have good credit... Hubby's is about a 780 I think and mine is a 720. We originally lived in the house and never intended it to be a rental. We are federal employees and move frequently and were unable to sell when we wanted to, as the market of course dropped drastically. We have rented it continuously, as it is in a kick-ass location in the southwestern US, next to a huge city park with hiking trails and mountains views, half a mile from a university, one mile from the downtown arts district and bars, very close to federal public lands, has an amazing climate, etc. We hope to live there again someday or retire there, so we no longer want to sell it. The problem is we pay out about $3,000 a year to keep the place since the rent does not cover the cost of the mortgage, taxes, property manager, and upkeep. We want to keep the property managers because they are great and make it a lot easier for us since we now live across the country. If we can lower our payment a few hundred dollars a month, it would be awesome. We aren't concerned if we do not make any money... We would just like not to lose money. The place rents for 795 a month and we receive 699 a month after management fees. We owe around $124,000 and it is hopefully still worth that, but could potentially be worth 10k less. If we refinance, we would like a 20 year loan ( they don't have 25 year terms do they?) so we do not lose all the years we have been paying. We also do not want to pay for the appraisal in case we get screwed regarding property value. If we have to pay closing costs we will, but I don't know what all of our options are. As a side note, Mr. Money Mustache would be happy to know that my husband and I did a shit-ton of repairs on the house ourselves, from tiling the bathrooms, installing new light fixtures and sinks, installing hardwood floors in the living room and bedrooms, landscaping, painting, etc. We didn't pay for any of this ourselves since we asked for gift cards to Lowes and Home Depot for our wedding presents. We did hire a plumber because my husband curses like a crazy person when performing serious plumbing, and although I have no issue with swearing, if its more than 100 curse words a minute, it's not very pleasant. Ha! Anyway, who has some good advice for us?