Cash Out Refinance - Local Bank or Institution ?

[John Caleb Pavlus]

BP,

With regards to multi-family (2 - 4 units) 

My experience has been that local banks are not offering cash out refinance on the residential side due to COVID-19. For the duplexes and quadplexes that my business partner and I own we are only being quoted from their commercial lending side. I've been quoted 5YR ARM amortized over 20 in the 4.25% region & 5YR ARM amortized over 15 in the 4.75% neighborhood.

I have never cash out refinanced.  Do national lending institutions offer (better term) fixed rate cash outs?  Will national lending institutions cash out refi 2 - 4 unit multi families as residential in the COVID-19 world we live in?

Thanks ! 

Caleb