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Updated over 10 years ago,
Cash out Refi - are these numbers acceptable?
Hi, I am applying for a cash out refi so I can take some equity out of a rental property I own outright in Florida.
Are these numbers a good deal?
Property: Condo - owned outright - current value $300k
Loan amount: $240k - 30 year fixed
Interest rate: 4.375%
P&I payment of $1198/month
Origination charges:
fees: $4250
underwriting: $1120
Lender credit to borrower $-5100.00
appraisal $435
credit report $12
closing/escrow fee $500
document fees: $100
notary fee: $150
Lenders title insurance: $450
recording charge: $120
Daily interest charges (24.8333 x15 days = $387.50)`
est closing costs: $2037.00
Is this a decent rate and charges?
Thanks!