No seasoning lenders?

[Jacob Silberfarb]

Hi all,

I currently have three BRRRRs in Tulsa, OK and am trying to refinance them and cash out. We have only owned them in cash for two months. 

Does anyone have lenders that will do a no seasoning cash out? I have quotes from a commercial lender that are 30 year fixed @ 5.425% with a prepay penalty of 5% and going down 1% every year after. 

Does this sound right?? I looked at this and thought it was extremely high. He said the rates only get about .25% better if we wait 6 months but we are trying to BRRRR as fast as possible and keep going.

(Not looking for a lender but want advice on if others found better rates that these)