re: Can I get some advice on cosigning a mortgage refinance?

quote:

---

In either case it's going to be a non-owner occupied mortgage and those rates and terms will apply.

---

This is a great point. He needs to be careful because if the bank thinks he lives there and he goes to refinance they may not take kindly to that. Rental property rates are usually at best Prime plus 1, so you are looking at mid 4% most likely in the least. Still much better then 7%.

If he has $160k in equity and the property is out of state, he would IMO be crazy not to sell it and buy a cheaper property or 2 with cash in the state he lives. Solves all the problems, gives him income, etc.