Cash-out refi options for 4plexes

[Anna Mecagni]

I have 4plexes in Mesa, AZ and am interested in taking advantage of these rock-bottom mortgage rates, to pull cash out and expand. Unfortunately, I'm finding it difficult to find lenders interested in this, and terms that are less advantageous than I would have expected. The best I've found is a 15-year loan at 4.1% (loan amount $240,000, or 65% of value) with about $6,000 in points and fees.

Others finding similar? Any tips?

[Travis Heppe]

Are these commercial, portfolio, or conventional? I just did a commercial loan that closed last Friday: 3.70% interest, 80% LTV, 30 year amortization, 12 year fixed. Seems like you ought to be able to do a little better.