Options for refinancing residence and investment props Cols Ohio

[Curt Bixel]

I am considering pulling some equity out of my primary residence as well as some rental properties in Columbus Ohio. I spoke with a local bank today that offers a great rate for a HELOC, but I would really like to lock in a low rate for a long time.

I was surprised that the cost for a cash out refinance was so much more than a simple refi. They said there are an additional 8000 dollars of cost for a cash out refi.

I wonder if anyone knows of some better options.

On another note, a few years back in 2012, I had difficulty getting refits on my investment properties because I had 4 of them. A lot of the banks told me that once you own more than 5 properties, they cannot loan to you.

I have a few things going for me including a steady job, years of solid positive cash flow on all of my rentals, and a credit score of 800+

Any advice you might have would be much appreciated.