Investor · Providence & Philadelphia · Member since 2020 · 34 posts · 19 votes
I'm looking to refinance our first Philly BRRRR property in Cobbs Creek, and wondering if any one has some current bank/credit union recs to do a cash-out re-financing?
We know that previous Bigger Pocket Forum Posts (Before 2021) have recommended:
- iFundPhilly
- Spring Garden Lending
- PFCU
But this was before two interest increases. Any help would be greatly appreciated!
Contractor · Chadds Ford, PA · Member since 2015 · 567 posts · 460 votes
4y
@Gabriel L. did PFCU increase their rates? I spoke to them very recently and they still hadn’t increased their rate, but it could have happened since then.
If so, I’d look at using a broker. Different banks and raising their rates at different rates and the one with the lowest could be different every week. A good broker would be in tune with these changes. I have a good one if you shoot me a DM.
Investor · Providence & Philadelphia · Member since 2020 · 34 posts · 19 votes
4y
@Rich O'Neill We contacted PFCU but they said they are so backed up and will take at least 5 business days to respond to us. They haven't given us any rates yet. We are definitely open to using a broker to shop around for us and I will shoot you a DM. Thanks!
Investor · Philadelphia, PA · Member since 2015 · 69 posts · 28 votes
4y
PFCU and Spring Garden Lending are good. Ukrainian Self Reliance Federal Credit Union also has a good rate/term program. Check out Anthony at Dominion Financial as well. Good luck!