Where to refi in Indy

[Kirsten Milliken]

I purchased a sfh in Indy in early March using a HELOC on my primary residence. I inherited tenants. They renewed their lease with a rent increase in September. Purchased for $80k. Current value is approx $163k

I’d like to cash out and invest in another property. I spoke to one lender who proposed a $114k mortgage at 3.25% with $8k in closing costs. That seems waaaay high. Any recommendations, input or suggestions to maximize cash out and minimize fees?