Refinancing my 4-unit in Maryland...any lenders you'd recommend?

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Refinancing my 4-unit in Maryland...any lenders you'd recommend?

Jeremy B.
Investor · Washington, DC · Member since 2014 · 27 posts · 8 votes
Currently have 8.675% 30-year on a 4-unit in Hagerstown. I'd like to refinance and would welcome any recommendations you may have.  Credit score is excellent and the property cash flows, so I'm hoping this will be a relatively easy process.  Thanks in advance!
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Raymond J. RodriguesBusiness Member
Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
1y

@Jeremy B. I'm seeing rates start around 6.75% with your specific scenario. 

[email protected]619-456-8311
Helm Mortgage Corp.5119 Reviews
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  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 728 votes
    1y
    Quote from @Jeremy B.:
    Currently have 8.675% 30-year on a 4-unit in Hagerstown. I'd like to refinance and would welcome any recommendations you may have.  Credit score is excellent and the property cash flows, so I'm hoping this will be a relatively easy process.  Thanks in advance!

     Hey @Jeremy B.! What's the LTV or ARV you want and rents on the units? Are you looking for any cash out?

    [email protected]
    0Reply
  • Jeremy B.
    OP
    Investor · Washington, DC · Member since 2014 · 27 posts · 8 votes
    1y
    80% LTV, each unit rents at $1,000 - no cash out.  Thanks!
    0Reply
  • Erik EstradaBusiness Member
    Lender · Los Angeles, CA · Member since 2022 · 7k+ posts · 1k+ votes
    1y
    Quote from @Jeremy B.:
    Currently have 8.675% 30-year on a 4-unit in Hagerstown. I'd like to refinance and would welcome any recommendations you may have.  Credit score is excellent and the property cash flows, so I'm hoping this will be a relatively easy process.  Thanks in advance!

     Hi Jeremy, 

    Are you looking to refi on a conventional loan or DSCR loan?

    [email protected]818-269-7983
    LuxePrivate Investments LLC 571 Reviews
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    0Reply
    • Jeremy B.
      OP
      Investor · Washington, DC · Member since 2014 · 27 posts · 8 votes
      1y
      Quote from @Erik Estrada:
      Quote from @Jeremy B.:
      Currently have 8.675% 30-year on a 4-unit in Hagerstown. I'd like to refinance and would welcome any recommendations you may have.  Credit score is excellent and the property cash flows, so I'm hoping this will be a relatively easy process.  Thanks in advance!

       Hi Jeremy, 

      Are you looking to refi on a conventional loan or DSCR loan?


      Erik - I have a conventional loan at the moment.  Would be interested in either another conventional loan or a DSCR.
      0Reply
    • Chris SeveneyBusiness Member
      Moderator
      Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
      1y
      Quote from @Jeremy B.:
      Quote from @Erik Estrada:
      Quote from @Jeremy B.:
      Currently have 8.675% 30-year on a 4-unit in Hagerstown. I'd like to refinance and would welcome any recommendations you may have.  Credit score is excellent and the property cash flows, so I'm hoping this will be a relatively easy process.  Thanks in advance!

       Hi Jeremy, 

      Are you looking to refi on a conventional loan or DSCR loan?


      Erik - I have a conventional loan at the moment.  Would be interested in either another conventional loan or a DSCR.

      Might be able to get 1/4 to 1/2 point better on conventional DTI over a DSCR - could run multiple scenarios to see what works.

      7e investments53 Reviews
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      0Reply
  • Jaycee GreenePro Member
    Real Estate Consultant · St. Louis MSA · Member since 2024 · 3k+ posts · 728 votes
    1y

    @Jeremy B. What are you estimating the value, $450k?

    [email protected]
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    • Jeremy B.
      OP
      Investor · Washington, DC · Member since 2014 · 27 posts · 8 votes
      1y
      Quote from @Jaycee Greene:

      @Jeremy B. What are you estimating the value, $450k?


       Likely closer to $500,000.  About $375,000 remaining on the mortgage.

      1Reply
  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 695 votes
    1y
    Quote from @Jeremy B.:
    Currently have 8.675% 30-year on a 4-unit in Hagerstown. I'd like to refinance and would welcome any recommendations you may have.  Credit score is excellent and the property cash flows, so I'm hoping this will be a relatively easy process.  Thanks in advance!
    Hi jeremy there are lots of great loan products available to you for the scenario. I would recommend connecting with an experienced loan broker that could help you shop a wide variety of lenders. Happy to connect! Good luck!
    [email protected]860-538-3672
    ProAlpha Capital55 Reviews
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    0Reply
  • Raymond J. RodriguesBusiness Member
    Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
    1y

    @Jeremy B. I'm seeing rates start around 6.75% with your specific scenario. 

    [email protected]619-456-8311
    Helm Mortgage Corp.5119 Reviews
    WebsiteView Page
    1Reply
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