Refinance rates for investment property

[NIcholas Hamel]

Hey everyone, I see that rates are really low lately. I have an investment property currently at 4.5%. I am seeing rates as low as in the 2s. Are rates this low for investment properties too or is this just for owner occupied? If so does anyone hVe a “go to” lender they can recommend? Thanks everyone!

Nick

[Avery Gilmer]

@Kao Saeteurn what lender did you use in AZ?

[Wesley Whitehead]

@Eric Johnson you are correct sir. I looked at refinancing my duplex and I would get only about $70/month more in cash flow and I wouldn’t recoup the cost if my loan for another 5 years. Not worth it for me

[Mikhail Abbott]

@Adriel Hsu try hurst lending in DFW. Im doing a cash out refy with them at 3.5% 75% ltv

[Sean Fillmore]

I am in the middle of closing at 3.45% at 75% LTV. I used Caliber Home Loans on my investment and have them in my primary residence in CA as well.

[Susan Chan]

@Nicholas Hamel

Currently re-financing our current home. He’s currently servicing CA primary and investment properties. Rates have gone up a bit since summer. Sung Joan at Loandepot.com

[Kyle Wells]

I just got in at 3.5% with 1/2 a point on a non-owner occupied fourplex in Kansas City. I was paying 5% previously and refinancing was easily worth it as I'd recover the costs within 11 months. I would recommend reaching out to local banks especially ones advertising their lending services. Even dropping 1% should have a recovery of cost within the next 1-2 years, so it's worth it if you plan to hold.

[Stewart Beal]

Great work Marco!  3% is a big win.

[Damel WIlson]

@Marco Anemone mind if I ask who’s the lender?

[Christene Martin]

Hi Nicholas, I am licensed lender and broker in NJ, I have a few investment property loans in the works and they are pulling between 3.25% and 3.5%, no points paid. Of course each scenario has different components, if you want to chat or have me run your scenario to get an estimate, just let me know. -Christene

[Pete Krentz]

I refied in June in an owner occupied 4 plex (the owner occupied doesn't help my rate). It dropped to 3.25.

[Jacqueline Soria]

@Bradley Padula thanks for sharing your experience and congrats on locking in a great rate on your refi! May I ask whether you took out this loan under your name vs. under an LLC? I imagine it's personal loan to get such a great rate, but figured I would ask.

[Account Closed]

I recently refinanced at 3% for a duplex investment in Florida. 25% LTV, no points, had closing costs rolled into loan. But they only offered 15 year.

[NIcholas Hamel]

@Wale Lawal

Awesome thank you! And is the price per point drastically different with different lenders or is it generally the same?

[Joshua D.]

@NIcholas Hamel

I just did a cash out refi, 115k 4.5%. Best I could get looking at 3 underwriters.

[Patrick McGrath]

@NIcholas Hamel

Was just quoted 3.625% 30 year 1/2 point.

[Brandon Ingegneri]

4.5% or so is what I am finding on my investments with a commercial bank.

[Steven Goland]

Definitely possible to get into the 2's depending on your situation - generally speaking most investors wouldn't fall into this bucket - but it's doable.

[Raymond J. Rodrigues]

Quoting 2.875-3.125% no points in Florida with good credit.