Refinance Commercial MF: What terms should I hold out for?

[Derek Maxson]

Hi. I have a multifamily -- more than 10 units -- that we've had for 4 years. I want to refi to take cash out.  Using the same bank that holds the original loan.

Should I expect the bank to want a point on the whole new loan amount or just on the new amount or less than a point on the full amount?

For example for illustration:  

Original Price: $1M

Original Loan: $750k (75%) -- we paid 1% for the loan

New Value: $1.6M

New Loan: $1.2M (75%) -- would we expect to pay 1% ($12k?)

What do you more experienced refi (first commercial refi I've done) discover and what should I expect?  Thanks!