Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
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 <5 real estate loans. What's the prevailing rate on this with no points/extra fees? I am getting quoted 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.
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.
Rental Property Investor · La Quinta, CA · Member since 2014 · 1k+ posts · 779 votes
11y
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.
Investor · West Covina, CA · Member since 2014 · 67 posts · 9 votes
11y
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.