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Updated over 5 years ago on . Most recent reply
Refinance rates and fees
I recently got a quote for a rental home refinance that I own free and clear. It brings in $1350 a month appraisal at 155k to 165k. The 2 rate options were 6.9% plus $5,470 in fees 30 day close 75% appraised value and the other was 8% interest, $5,400 fees, 60% Appraisal, 2 week close plus some additional income verification. I have an 800+ credit score NO debt at all and over $100k in the bank. I thought these fees were high but some investors have said its not bad.
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Price point of properties? Conventional or Commercial loans?
- Russell Brazil
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District Invest Group
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