Refinance Quotes - What Interest Rates Are You Seeing

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Alice Huang
Investor · Austin, TX · Member since 2020 · 223 posts · 83 votes
6y

@Jim Meloche

Agree with you here. If every poster can be more specific if your principal residence or investment. Thank you!

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  • Ricardo Paredes
    Investor · Gardena, CA · Member since 2016 · 41 posts · 14 votes
    6y

    3.125% on a multi-family 70% cash out refi. Loan amortized over 30 years, but with balloon payment at 15 years. Valley Strong Credit Union.

    0Reply
  • Quincy Hall
    Rental Property Investor · Chattanooga, TN · Member since 2020 · 15 posts · 20 votes
    6y

    @Jim Meloche. I agree, I am in Chattanooga and I can't get an investment rate no better than 4.5. Maybe I should check out some of these online banks even though I would perfer to stay local.

    1Reply
  • Andrew Bresee
    Rental Property Investor · Chattanooga, TN · Member since 2015 · 23 posts · 12 votes
    6y

    @Quincy Hall - I’m in Chattanooga as well. We close on Monday on a refi for an investment property at 5.25 - and that’s after paying 1.5 pts. Def not as low as I’m seeing advertised. 

    0Reply
  • Eric Lee
    Rental Property Investor · Phoenix, AZ · Member since 2018 · 24 posts · 10 votes
    6y

    @Curtis Robbins I'm a mortgage processor and have been seeing conventional and VA at 2.65 to 3.25 over the last few weeks that were locked at application

    2Reply
  • Kyle Wells
    Realtor · Lake Stevens, WA · Member since 2018 · 122 posts · 91 votes
    6y

    On my primary SFR, I was able to get a 3.0% 30-year fixed through Cardinal Financial. There was a rate buy down on that. 30-year fixed rates are between 3.2-3.375%. Investment properties (1-4 units) are hovering closer to 5% (spread is about twice what it normally is).

    0Reply
  • Spiro Tsagaris
    Rental Property Investor · Trinity, FL · Member since 2020 · 3 posts · 1 vote
    6y

    @Sean McCluskey that's amazing!! May I ask through who? My wife and I just bought a new house and are in the process of renting out our first home. Would love to refinance it and continue the BRRRR method.

    1Reply
  • Raymond J. RodriguesBusiness Member
    Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
    6y

    @Spiro Tsagaris are you looking to refi your old primary residence down to around 4%? 

    [email protected]619-456-8311
    Helm Mortgage Corp.5126 Reviews
    WebsiteView Page
    0Reply
  • Lei L.
    Rental Property Investor · Indianapolis, IN · Member since 2017 · 120 posts · 12 votes
    6y
    Hi Brant, can you PM me where do you get the quote for investment property? Thanks.

    Lei
    Originally posted by @Brant Schumaker:

    @Jim Meloche I'm getting quoted 3.875%, no point, 30-year fixed on an investment duplex; 3.75% for an SFH. PM if you need an introduction.

    0Reply
  • Lei L.
    Rental Property Investor · Indianapolis, IN · Member since 2017 · 120 posts · 12 votes
    6y
    Very nice post! Looking for the same kind of information. What are the lenders giving you the quote? 

    Originally posted by @Kris Mann:

    Thanks for the info everyone!

    Closed 3 SFs with the following parameters:

    • Closing Date: 1st week of June
    • Location: Maryland
    • Property Type: Investment
    • Loan Type: Cash-out refi
    • Num of properties: 3
    • Holding: LLC
    • LTV: 75%
    • Amortization: 25 yr
    • Term: 5 yr balloon
    • Interest: 3.46%
    • Fee: doc fee of $500, no origination fees
    • Guarantee: LLC + Personal, UCC only on the said 3 properties + depository relationship
    • Bank: Regional bank, I have an existing primary depository relationship

    The above bank won't offer me a longer term, so I just got the following quote from another bank

    • Closing Date: Quote valid till 7/31
    • Location: Maryland
    • Property Type: Investment
      Loan Type: Cash-out refi
      Num of properties: 5
      Holding: LLC
    • LTV: 75%
    • Amortization: 25 yr
    • Term: 10 yr balloon
    • Interest: 4.25%
    • Fee: 0.5% origination fees
    • Guarantee: LLC + Personal, UCC only on the 5 properties. No need for depository relationship
    • Bank: Hyper local bank

    If you guys don't mind, please include all of the above information for your loans, it will be super helpful. 

    1Reply
  • Martin NealPro Member
    Rental Property Investor · Chicago, IL · Member since 2017 · 293 posts · 383 votes
    6y

    In Illinois for investment properties, I'm seeing 6% or higher. No one wants to lend to LLC. I've been forced to use the lenders with higher rates. If there is a lender in Illinois that does it in Illinois for lower and through the LLC, please speak up!

    0Reply
  • Sean Julian
    Rental Property Investor · Porter, TX · Member since 2020 · 93 posts · 42 votes
    6y

    I haven't made it all the way through the refi as I'm working my first BRRRR now, but my advisor at https://www.ownup.com said he's completing loans as low at $50,000 and depending on LTV and credit scores high 3's and low 4's now.

    0Reply
  • Matthew MuellerPro Member
    Rental Property Investor · Hoboken, NJ · Member since 2010 · 40 posts · 6 votes
    6y

    For NOO on SFH, I have been quoted 3.875% on 75 % LTV with one lender, and 3.375% on 70% LTV. Has anybody been able to get a rate better than 3.875% on a NOO Investment SFH?

    0Reply
  • Aaron Barber
    Rental Property Investor · Las Cruces, NM · Member since 2017 · 65 posts · 38 votes
    6y
    Originally posted by @Matthew Mueller:

    For NOO on SFH, I have been quoted 3.875% on 75 % LTV with one lender, and 3.375% on 70% LTV. Has anybody been able to get a rate better than 3.875% on a NOO Investment SFH?

    I locked earlier this week with low VA rates. 25% down, 1 pt 3.35%. But even with 1 pt their fees were the same as many others because they dont charge an Org fee.

    0Reply
  • Christopher B.
    Fremont, CA · Member since 2016 · 11 posts · 0 votes
    6y

    @Jesse Hinaman

    How much equity needs to be in the properties?

    Is the 2.99 good for loans over $1M?

    0Reply
  • Jesse Hinaman
    Lender · Sacramento, CA · Member since 2015 · 112 posts · 62 votes
    6y

    @Christopher B.

    75% and $300k+ loan amount on investment property at 3.375%.

    For 2.99% primary home, 5% equity minimum. High balance ($510k+ loan) will have small buy down. If you have over 20% equity there is a very good chance we can waive appraisal and close in 12 days.

    Not available on jumbo ($765k max in high cost areas like Bay and SoCal).

    1Reply
  • Brian Findley
    Rental Property Investor · Member since 2018 · 4 posts · 1 vote
    6y

    @Joe Splitrock

    Care to share your lender contact? I'm rate/fee shopping right now, best I currently have is 4.25 with no points, 30 yr term.

    0Reply
  • Andy Whitcomb
    Investor · Black Diamond, WA · Member since 2016 · 123 posts · 127 votes
    6y

    @Kyle Wells would you say you recommend Cardinal Financial? 

    I have a few investment properties (in LLC's) that I need to refi but I'm having a hard time getting anyone to call me back. If anyone has any recommendations I'm all ears!

    0Reply
  • Gary Abner
    Rental Property Investor · Kitsap county Washington · Member since 2017 · 117 posts · 39 votes
    6y

    I locked Friday at 2.99% @30 year VA for my personal residence. 90% cash out.

    I am looking to refinance my non-owner-occupied investment duplexes next, currently at 5% at 30 years.

    0Reply
  • Edlira Clevenger
    Realtor · Orlando, FL · Member since 2016 · 24 posts · 4 votes
    6y

    @Elise Marquette I’m looking to refinance my Va Loan. We are at 3.5% now. Any of these rates still available now that would be it still worth it? I’m just looking for a lower payment. I did a cash out refinance more last year in August

    0Reply
  • Kyle Wells
    Realtor · Lake Stevens, WA · Member since 2018 · 122 posts · 91 votes
    6y
    Originally posted by @Andy Whitcomb:

    @Kyle Wells would you say you recommend Cardinal Financial? 

    I have a few investment properties (in LLC's) that I need to refi but I'm having a hard time getting anyone to call me back. If anyone has any recommendations I'm all ears!

    Unfortunately, the commercial lender I had been working with that does refinances under LLCs froze long-term lending the week we were supposed to close (due to COVID-19), so I had to pivot to another lender and ended up quit claim deeding the property into my wife and I's personal names. We have an umbrella policy up to $1,000,000, so I wasn't concerned about doing that. I don't think Cardinal Financial would be able to finance properties held under LLCs.

    0Reply
  • Jason Powell
    Beaverton, OR · Member since 2014 · 118 posts · 119 votes
    6y

    Primary res, rate and term refi, free desktop appraisal, no points, 2.99% 30 yr fixed. UWM via a broker. 

    1Reply
  • Michael Noto
    Real Estate Agent · Southington, CT · Member since 2008 · 5k+ posts · 3k+ votes
    6y

    Rates are as good as they are pretty much ever going to get. Refi now. 

    0Reply
  • Carrie Blaskowski
    Real Estate Agent · Winston Salem, NC · Member since 2020 · 14 posts · 6 votes
    6y

    @Ahmed Iqbal you could start with Kathryn Bornac at Helms Mortgage or Don Owens at Hamilton Group Funding. If they cant help you they will refer.

    0Reply
  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    6y
    Originally posted by @Manny Awasom:

    @Jaron Walling hi Jaron can you PM me your contact's info @  Forum CU please?

    Here you go man! 
    https://nspirrison-forumculo.mortgagewebcenter.com/

    Tell Nick I sent you his way. Good luck. 

    0Reply
  • Yoel Braver
    Rockland County, NY · Member since 2017 · 26 posts · 1 vote
    6y

    @Curtis Robbins is this a refi or a new purchase? and what is the LTV

    0Reply
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