The 'short answer', without any additional information, is YES. You can refi the loan, however, depending on the terms of your LAST loan (prepayment penalty, subordination rights, etc,) , as well as other important facts (such as lien position, subordination restrictions, credit score(s), debt ratios, etc.), it may cost you more than the refi is worth, both in the long run and short term, and in dollar terms, also.
Why are you refinancing the loan? How much is your property worth? Is this the only loan against the title? Are there any other lenders involved? Is the title clear? These are all VERY important pieces of data (as are the items everyone mentioned above) that your current broker or lender *should be* asking. If they are not, FIRE THEM IMMEDIATELY. Otherwise, this data will paint a financial picture of your current situation (as well as past and potential future), which, in turn, will very nearly DICTATE your next move, taking any guesswork out of the equation.
Will the refi be worth it? Can't say. Can you refi? Absolutely...for a nominal fee, of course. And, one more thing, don't pay more than ONE POINT - it's a fair price for both you and the broker/banker. Any more than that and you're likely being ripped off.
Have a great day and good luck! | 12.13.14 @ 20:49