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Updated over 4 years ago on . Most recent reply

User Stats

6
Posts
2
Votes
Anna Mecagni
  • Investor
  • Studio City, CA
2
Votes |
6
Posts

Cash-out refi options for 4plexes

Anna Mecagni
  • Investor
  • Studio City, CA
Posted

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?

Most Popular Reply

User Stats

32
Posts
27
Votes
Travis Heppe
  • Investor
  • Mesa, AZ
27
Votes |
32
Posts
Travis Heppe
  • Investor
  • Mesa, AZ
Replied

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.

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