Updated about 6 years ago on . Most recent reply
refinanced my loan , need advice before closing
BP,
I need some input , what would be considered a good interest rate on a 4 plex investment property ( non owner occupied)? I closed at 6.125% with a loan amount of $277k back in feb 2019. I refinanced at 4.875% a few days before Christmas ( my lender says this is a great rate for an investment property) , with a loan amount of 290k. saved me about $1,700 a year but my loan amount went up almost 13k because of closing cost? I received my CD today, should i move forward or shop around? please advise.
-Maurice
Most Popular Reply
Yeah, it sounds like your cash flow is nice. Eugene has high property taxes, so I'm going from cash neg to barely positive. It sounds like a great situation overall. Congrats to you!