What are the current rates and points charged for a conventional cash-out refinance on a single-family home investment property? I would like to know the current trends for interest rates, points, and lender fees. I expect it to be higher based on the fed rate hike!
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
4y
@Matt Wells if you would have only asked this 2 years ago....or 2 months ago....or 2 weeks ago....or 2 days ago....it's that volatile right now. But 6.5% is a good rate to be using right now. However, that might change by tomorrow.
Software Developer · Vidor, TX · Member since 2015 · 922 posts · 639 votes
4y
The lowest OO mortgage rate I've seen is 4.9% from a credit union. I would budget for 6.0%+ for a cash out on an investment property at least. Don't have any experience regarding points. Lender fees can vary but I would say 3500 - 5000 in origination and other underwriting/prep fees.
Lender · Orange County, CA · Member since 2019 · 299 posts · 255 votes
4y
Exact pricing will depend on several different factors. For a general idea, right now we're around 6.5% with 0 points for a typical investment cash out refi. Lower rates available with points.
Lender · Fort Worth, TX · Member since 2016 · 8k+ posts · 6k+ votes
4y
@Matt Wells if you would have only asked this 2 years ago....or 2 months ago....or 2 weeks ago....or 2 days ago....it's that volatile right now. But 6.5% is a good rate to be using right now. However, that might change by tomorrow.