I have 4 properties I want to get my payment lower, what’s the best way to shop refinance rates
Best way is to start making phone calls or visiting local banks in your area. Each will require an appraisal, but they might give you a break in price if you do all 4 through them.
@Martin Nowak When shopping with different lender you will want to make sure you provide consistent information about your situation. This is important because investment properties have a lot of different pricing adjustments. You want to make sure the quotes that you are comparing are apples to apples
- Credit Score (above 740 will give you the best rates)
- Property type (single family? 2-4 unit? condo?)
- Estimated loan to value
- Pulling cash out or just getting lower rate
I would ask each lender for the interest rate, does that rate include any points, and what are the total origination fees.
Thanks this is helpful -