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Updated over 8 years ago,
Investment Mortgage quote/30 yr fixed3.875%/ 3 points reasonable?
I'm trying to obtain a cash out refinance a SFR rental property I bought originally all cash. My mortgage broker is giving me 3.875% 30 year conventional fixed with 3 points down. 75% LTV. total loan amount 80k. total property value 110k. My credit score is 740+, which is what the quote assumes. The rate looks good but can I do better with the points being charged? That equates to $2400 in points... I just want to see if I should be shopping around for a loan with less up front points or costs... Thanks in advance for your feedback.