Cash-out Refi Interest Rates

[Mel Hayes]

Hello everyone, Like most investers right now I'm trying to do a Cashout Refi.  I've spoken to about 5 lenders and I've gotten a vast amount of responses to my attempt to Refi.  Some lenders have told me that they are staying far away from investment properties.  The other 3 lenders gave me different interest rates.  One lender quoted me 4.6%, one said they could do it at 3.1% (which sounds like bs) and another told me 3.8 that would cost me 1 point.  

My question is what is a good realistic rate on a cashout refi?  What is bad deal on a cash-out refi?  Has anyone (lender or borrower) done a cash-out recently?  What is the current market for cash-outs right now?

Thanks to all those who reply.