refinanced my loan , need advice before closing

[Maurice Smith]

BP,

I need some input , what would be considered a good interest rate on a 4 plex investment property ( non owner occupied)? I closed at 6.125% with a loan amount of  $277k back in feb 2019. I refinanced at 4.875% a few days before Christmas ( my lender says this is a great rate for an investment property) , with a loan amount of 290k.   saved me about $1,700 a year  but my loan amount went up almost 13k because of closing cost? I received my CD today, should i move forward or shop around? please advise. 

-Maurice

[Maurice Smith]

Originally posted by @Josh Lovvorn:

@Maurice Smith

I'm currently refinancing my single family in Eugene, OR.  It is held privately by my wife's uncle and we pay the mortgage through a trust.  Local lenders offered cash out refi to a 30 year at 4.5% with about 10k in closing costs; this is on a credit score of 688 and had to option to buy points down to 4.125%.  The uncle was actually able to make better terms, so we are going with his offer, but the mortgage company definitely had very good rates.  

I wish that was the case with my situation... but as we all know investment property loans 0.50- 1% higher then regular a Primary mortgage  ... I structured deal to were my tenets pay my mortgage for me and sum.  I’m real thankful for that