If you are a landlord in the Greater Dallas Metro area, you are on the receiving end of some very good news. According to the March 2021 Dallas Rent Report, area cities are seeing higher rent growth than the national average index. Rents have risen in 6 of the largest 10 cities in the Dallas Metro. Plano has the most expensive rents of the largest cities in the Dallas metro, with a two-bedroom median of $1,539; rents grew 0.1% over the past month. McKinney has the second-highest rent rate at $1,370 per month.
The rental market is booming as the available inventory of homes for sale is diminishing, and with the current low-interest rates, circumstances are perfectly aligned for rental property investors looking to refinance. From 1-4 unit stick-built homes to condominiums and townhouses to modulars, investors may be able to refinance up to 10 properties.
As the number of renter households increases in the Dallas-Fort Worth area, refinancing investment rental properties can increase reliable cash flow with a lower rate or pay off property faster with shorter mortgage terms.
First United Bank Mortgage Group is the go-to resource for property investors in the Greater Dallas Metro. With years of experience, a streamlined process, extensive local real estate knowledge, and precise attention to detail, we provide the investment property loan and refinance solutions you can trust. Give us a call today at (972) 591-3097 for a free quote and consultation.