Good terms? You know where to get better? 30 yr fixed rate NOO.

[Cameron Price]

I'm getting quotes on mortgage terms, etc.

Heres what I currently have:

Rental property appraised at $72,000. 

Looking for 30 year fixed rate mortgage- cash out refinance.

My credit score is 762.

I have a 10K LOC on the property that I'll have to pay off. Other than that, no debt.

Located in a rural area of Darlington, SC.

I have a verbal quote of 75% LTV (so 54K loan) with an interest rate of 4.5-4.75% and 2 point origination fee from a mortgage broker.

Anybody have a connection for higher LTV and/or lower interest and origination fees? Or do these look reasonable considering the market?

I'd like to get 80 or 85% out of it, but that might be wishful thinking.

[Thomas P.]

I have found that by developing banking relationships through my flipping business and relationships with other investors in your area, I have been able to do things with some banks most people seem to not be able to do, including myself when I first started 7 years ago.  I now have a relationship with a banker who I attend church with that is allowing me to do some spectacular things because of the relationship and another, who was recommended to me by another investor friend and who recommended me to the banker as well offering crazy good terms.  Developing relationships with fellow investors and bankers has been invaluable.  What it tells me it that there are some lenders with certain banks who have the ability to make loans at terms no available to the public....based on the relationship.  It still exists!  The relationship!