Best Place to Shop Cash-Out Refi?

[Laura H.]

I have a duplex in Nixa, Missouri (near Springfield) worth $140-150k with $38k left on the loan. Looking to refi and utilize that equity for our next multi-family property.* I live in the Kansas City area - that shouldn't make a difference, right?

So who do I call? My broker from my primary residence purchase? Local KC banks and credit unions? LendingTree.com?

Seems like 70% LTV is typical? Any thoughts of how to stretch that to 75-80%?

(*If you've seen me post about this before, you'll notice this plan is different than the "sell and start over" track I was taking a few weeks ago. We've been able to increase the rent, and have talked to the property management company about improvements. The numbers are starting to line up with what I'm looking to accomplish, so I figure it's better to stick with the devil we know, so to speak.)

[Mindy Jensen]

@Laura H. , when shopping for a mortgage, each individual credit pull gets lumped together as one hard inquiry - as long as they are performed within 14 days. (Some agencies will go to 30 days, but it's best to get them all done within 14.)

I'd call around and get rate quotes from everyone. Local banks, credit unions, big lenders, brokers too.

Compare apples to apples by writing down closing costs, loan amounts and interest rates.