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Updated over 5 years ago on . Most recent reply

User Stats

60
Posts
22
Votes
Benjamin Dutil
  • Rental Property Investor
  • Windham, ME
22
Votes |
60
Posts

Cash out refi and costs associated with this

Benjamin Dutil
  • Rental Property Investor
  • Windham, ME
Posted

Hi BP peeps,

I'm close to completing a cash out refi. Just waiting for the appraisal. I'm not looking for criticism so please keep it constructive if you do! What I would like to know is what I can expect for closing costs and fees associated with the cash out refi? I suppose it greatly depends on the institution but would like to get some sort of information from others who have been through the process. Some details are as follows; The property is held in my LLC. I bought it all cash and own it outright. The new loan will be a 20 year fixed for the first 10 years. Early payoff fee is 5% first year, 4% second and so on until the 10 years mark. Thanks in advance for your insight!

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