Good credit, low income - refinance options?

If you find a bank with in-house loans, they have full say over acceptance or denial because they aren't dealing with another bank's cash. This automatically gives you a better chance of getting approved.

When you are seeking refinance, make sure you have the deal presentable with EVERY SINGLE factor you can think of. This will show the bank you know what you're doing and increase the likelihood of acceptance.

They might want you to put a rental reserve of six to twelve months into a bank account for collateral. You can pay yourself (or whoever) back after the refi closes.

Remember, if one bank says no, that doesn't mean another won't say yes! You should hear the stuff I get when calling banks. One credit union very convincingly told me that all credit unions don't lend to investment properties. The next bank I called was a credit union that did EXACTLY that. I wanted to call the other bank back and tell them the good news

Thanks for the information. I suppose it really all comes down to the individual bank, is what you're saying. I had thought of keeping a rental reserve to show the bank, and that may end up being the tipping point in my favor. It would show them that even if a renter stopped paying, I would still be able to pay them for at least 6 months, and that's huge with banks. All I would need to do to make that happen is borrow a bit more cash from my private money lender, and I would be able to keep a rental reserve.