Columbus, Ohio - Cash-out refinance lenders
We have had our first rental property for 6 months now. We paid cash and we're ready to get a mortgage on the place. We want a 30 year fixed - and we are not interested in a 5/1 ARM which everyone seems to try to sell to us. I have a start... I have talked to 4 people AT THE SAME BANK because this is the bank with crazy-low closing costs. One guy said that my name had to be on the title for 12 months before they would do anything, another guy said they would only lend 75% of purchase price until we've owned it for TWO years (we bought cheap and dumped a TON of $$ in it, so this is no help at all). The last guy, who is crazy slow to respond to anything, says that we can do 30-yr-fixed loan for up to 75% appraised value but he is saying a 4.625% rate (which seems quite high) and I have to pay points! I'm just really not pleased with the options. I was locked onto this bank because of the draw of the low closing costs and now I'm thinking they just don't offer what we're looking for. I had no idea it would be so difficult to find a mortgage 6 months after purchase!
Who have you used for this type of mortgage product? Suggestions?