Where are you getting your Fannie/Freddie refinances done in NC?

[Kyle Bergren]

With tricky and complicated regulations in Fannie/Freddie lending with COVID-19. Who has had much success completing a refinance in an investment property?  What sort rates and fees did you come across with who you use? Do you have a lesson learned or roadblocks have you encountered with Fannie/Freddie refinancing? 

MC Mortgage

Loan Amount: $86250

Interest Rate: 5.125%

Origination Charges: $1910

Appraisal & Credit Reports: $955

Title: $1500

Total Loan Costs: $4365

Lesson Learned:

Don't buy an investment property with your home HELOC while your in the middle of refinancing your home. There's a regulation that the refinance funds can only be used to pay off the source you borrowed from. My mistake was to use my home HELOC to purchase the investment property then subsequently refinanced my home and closed the HELOC. This is causing a 4 month delay in my refinance so I can work outside the delayed financing requirements. Who the heck would ever know not to that? But it happened.