Basically, I have 5 single family homes with an average rate of 5.2%. I wanted to refinance with how low rates are, but the closing costs are killer. I was wondering if I can create 1 new loan to replace all the 5 individual loans. Is there any lender that will do that?
Yes, its called a blanket loan, but that's a commercial product. If you want to take advantage of the low rates, you do know its based on personal qualifying income?
CMBS, and asset based options are still in the high 4s/mid5s for pricing.