If, after not occupying the property for a long time, you decide to live in it as your primary residence, you may be able to refinance to get a different rate. Keep in mind that every refinance has closing costs, so make sure that you will have a tangible net benefit from refinancing. An example of this would be someone who owns a cabin where they like to vacation who then moves into the cabin full time after retirement. That individual could refinance to get a better rate on their cabin.