In my case both are investment properties, SFH. They are non-owner occupied loans. Half the people on this thread are talking about owner occupied rates.
Just re-did my personal residence; it was originally a 10% down 30-year conventional around 4%. I refinanced into a 20 year (shaving off 4 years of payments), removed PMI, rate is 3.125%, "flipped the script" on principal and interest payments, and overall my payment went down $80 per month. Very happy with it, perhaps folks are doing better, but my mortgage guy has been great.
I wanted to refi my investment property (currently a 30 year @ 5.625%, 25% down, about 2 years in) but my guy said that well is not as abundant. I also have about ~75k in principal balance so the flame isn't worth the candle for those folks, probably.
I just refi 3 of my rental properties on one commercial loan to my LLC with a local bank at 80% LTV. Rate is 6% for 5 years over 20 years amortization. I also opened a business line of credit with the equity.
I am an out of town investor for Greensboro, NC. Any suggestions for a lender in that area that I can have refinance an investment property. The property is rented currently and does not have any loan.
Hi All, I'm working on a 3.625% 30 year fixed for my primary in San Diego with a jumbo cash out refi, and the lender is crediting $3K in closing costs (so I'm out the door for roughly $500-800). I think the rate could have been better, but my strategy is to come back to the table in 6 months and refi the new inflated loan balance as a non-cashout which will hopefully be around 2.75% fingers crossed!
Next month I will be looking to refi my 2 unit Reno investment property and am currently searching for lenders if anyone has a good referral?
@Curtis Robbins 2 weeks ago I closed at 3.3. Originally it was 3.6 but you can watch the numbers fluctuate and request them to re lock the number to the new number before closing. They will tell you how long that window is open. I went with guaranteed rate.
Last month we completed refi of our primary residence (Virginia) through Veteran's United for 2.9% no points at a cost of $2800. We will be closing our HELOC on an investment property (Washington State) next week. Through PenFed we received 4.75% ARM with the bank paying closing so long as we keep the account open for at least three years.
We just closed a refinance on our primary residence. Went from a 30-year to a 15-year and got in at 2.875% with closing costs and what not all rolled in. We always paid extra so the payments are nearly the same and we got back a few hundred bucks as well. We're in NC by the way.