Refinancing Multi Family

[Kenneth Hartog]

I'm cash out refinancing 3 multi family properties in Los Angeles. They range from 8 to 20 units.

I want short term (3 year fixed) and max LTV.

What is the best rate I can expect? Best spread off the 10 year or 6 month Libor?

I'm not looking to pay any points.

Thanks

[Jared Rine]

@Kenneth Hartog...Did you find what you're looking for?  Interesting to me, as why the short term?  Are you planning on dumping them in 3?  It might be a hindrance with many lenders..I know some offer a 3 YR but I don't feel that it's standard.

I think depending on income/DSCR constraints, you could get to 80 LTV on the cash out. It is available with certain lenders' programs. Otherwise, expect 70-75% max, depending on lender.

Throwing this out there as food for thought- if you only are going to hold for 3 (assumed), what if you could get a 3 Yr I/O, to maximize cash flow?

I feel no points could be arranged for the right lender/program, but that's not going to be necessarily easy either.  Rates should be anywhere in high 3s-mid-4s.