Refinancing a multifamily real estate project can be a great way to lower your interest rate, reduce your monthly payments, or cash out equity for other investments. Here are some steps to consider when refinancing your multifamily property: Evaluate your financial situation: Before applying for a refinance, take a look at your current loan terms, interest rate, and overall financial goals. Determine if refinancing makes sense for you based on your current financial situation. Shop around for lenders: Compare rates and terms from multiple lenders to find the best deal for your refinancing needs. Consider working with a multi family lender like Express Capital Financing. Gather necessary documentation: Be prepared to provide documentation such as tax returns, income statements, and property appraisal reports when applying for a refinance. Apply for the refinance: Submit your application to the chosen lender and wait for approval. Be prepared to pay closing costs and any associated fees. Close on the new loan: Once approved, go through the closing process to finalize the new loan terms and begin making payments according to the new agreement.