Question on cash out refi rates

[Glenn Barlow]

Hi BP Fam

I am in the process of doing a Cash-out Refi (75% LTV, 2-4 unit mix, new loan amount approx $1.9M/1.25 DSCR min) and just wanting to see what sort of comparative rates others are getting out there at the moment.

Im getting a 40 Yr with first 10 Yr interest only at 7.25% when all is said and done. Its a 5 Yr Prepayment Penalty (5%).

Just want to make sure I am not getting what the market is sat at now in this increased rate crazy world.

Any advice would be appreciated. Chime away!

GB

[Andrew Garcia]

Hi @Glenn Barlow, it is in line with the market but how many points are you paying to get that rate? Both origination and discount. That would be where you would learn more if the terms are competitive or not.