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Updated 2 months ago on . Most recent reply
Cash out refinance - been holding for 2 years
We are all in the same boat. I have been sitting on a great rental for 2 years waiting to refinance. Has anyone found a way to refinance and get cash out for a rate better than 7%?
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Just before the FED provided their first rate cut, DSCR loans were down to nearly under 6% with 1 year PPP at par pricing. Today, they are floating between 7.4-7.75%, depending on factors.
Your best bet is to work with a broker who watches these things daily. Once something meets your criteria, they can notify you and jump on the program to get it closed before things move around again.
Cheers!
- Nick Belsky
- [email protected]
Belsky Mortgage, LLC
15 Reviews
5.0 stars