I am looking to do a cash-out refi on a SFR investment property in Nevada City CA. Loan amount is $172k (80% LTV). My credit is 700. Plenty of income very little debt. I have 4.875% which feels high in this environment....not sure if I should bother shopping this rate or not. I am guessing it will be originated through flagstar, that's where they sent the original loan.
Now quoted 4.75% on a 45-day lock, possible 4.625% once we get in the 30 day lock period.....which is closer to my expectations. Any CA loan officers want to weigh on on whether these rates sound competitive?
all of those rates are in the right range depending on the day. Your talking about a difference of around $13/per 0.125%. Not worth killing yourself shopping everywhere and having your credit pulled.
My brother does no point no fee Flagstar mortgages with competitive rates. Let me know If you are still looking. He just quoted someone 4.125% today but it's been 3 month since your post and rates has come down a bit.
Your credit score might bump the rate up by .125% though.
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