Cash-Out Refi Rate Check — New Hampshire Investment Duplex

[Kevin Laddon]

I’ve been working on a BRRRR on a duplex in New Hampshire and am now looking at a cash-out refinance to free up capital for another deal. I had a local bank quote me the following in their loan estimate:

• Property: Duplex (investment)

• Location: New Hampshire (Strafford County)

• Appraised Value: $638,000

• Loan Amount (60% LTV): ≈ $382,000

• Rate Quote: 6% fixed, 30-year

• Loan + Title Fees: ~$13,200 (includes a 2% origination fee) — excludes escrows/prepaids

• FICO Score: 800+

• Note: Open to higher LTV for more liquidity, but 60% is where I've gotten the best rate so far

Question:

• Does 6% with these fees sound competitive for an investment property cash-out refi?

Not necessarily looking to switch lenders, but I want to sanity-check whether this quote is in line with the market. Appreciate any insights from brokers or other investors who’ve closed recently.

[Jay Hurst]

Quote from @Kevin Laddon:

I’ve been working on a BRRRR on a duplex in New Hampshire and am now looking at a cash-out refinance to free up capital for another deal. I had a local bank quote me the following in their loan estimate:

• Property: Duplex (investment)

• Location: New Hampshire (Strafford County)

• Appraised Value: $638,000

• Loan Amount (60% LTV): ≈ $382,000

• Rate Quote: 6% fixed, 30-year

• Loan + Title Fees: ~$13,200 (includes a 2% origination fee) — excludes escrows/prepaids

• FICO Score: 800+

• Note: Open to higher LTV for more liquidity, but 60% is where I've gotten the best rate so far

Question:

• Does 6% with these fees sound competitive for an investment property cash-out refi?

Not necessarily looking to switch lenders, but I want to sanity-check whether this quote is in line with the market. Appreciate any insights from brokers or other investors who’ve closed recently.

 Make sure the LO understands when you purchased the property, so you are not down the road and a seasoning issue pops up. Sometimes LO's do not ask the right questions or understand the rasmifications even if you give them the info.