Am I getting a good cash out refi rate?

[John Anderson]

Hi – I am currently shopping around for a cash out refinance on my personal residence in the San Francisco Bay area. The home is valued at approximately $2 million, and I have excellent credit.

Currently I am being quoted at around 3% for a 30-year fixed, with around $4000 in closing costs. Is this a decent rate, or should I continue to shop? I currently have no debt otherwise.

Thanks!