How to find best cash out refi?

Question

I bought a foreclosed duplex 5 yrs ago and rehabbed both units. I live in one and the same renters have been in the other side the whole time. How do I find the best cash out refi? Is there a website that makes it easy to pick banks? My credit is excellent and I have no debt other than my current mortgage and a few months left on my truck lease.

Andrew Postell · Answer

@Ryan Stevens most services like the one you are asking about focus on primary homes.  And there are a lot of good lenders on primary homes.  But for investment properties they are somewhat hard to come by.  I did just write an entire post for Bigger Pockets on this subject that you can find HERE.  Feel free to ask any else that you need.  Thanks!

Andrew Postell · Answer

@Ryan Stevens you have some good suggestions above but things like bankrate.com or lendingtree will put you in touch with lots of lenders so you can compare.

Elise Marquette · Answer

Usually finding an online mortgage broker is a little like asking Web MD to diagnose you without specifying any symptoms. Wouldn't really recommend it for the most part, especially with an investor mindset and in a multi. Many times the online brokers are geared towards Joe and Jane homebuyer in single family home that don't have the same investor/wealth building mindset.

Ben D. · Answer

Honestly, if I'm looking for a conventional loan, I've found that Costco's network of lenders can have very good rates and many of them are national lenders.  If you google 'Costco mortgage services' you'll be able to find it.  If you enter the property value, current loan amount, property address, etc., Costco will show you the rates of all the lenders in their network.

Ryan Stevens · Answer

@Andrew Postell Well it is my primary home. I live in one side and rent the other.

How to find best cash out refi?

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