I did recently begin a cash out refinance with America First Credit Union. Will be a 45+ day close at 5% (30 years) on an investment SFH property at 75% LTV.
@Bob Willis not closed yet, but disclosures show $2333 origination costs ($238 points, $1500 origination fee, $595 processing)
$725 appraisal, $9 flood cert, $66 tax service
$1125 for closing protection letter, endorsement fee, title insurance, settlement
$95 recording
$391 prepaids
$961 initial escrow
Total closing costs $5705
Just curious. How many units is that? Sounds kind of high with fees involved.
I have a 2 unit duplex in los angeles currently at 4.125% 30 year mortgage that was done back in 2016. I got offered recently 3.62% 30 year fixed cash out refi with about $6000 in fees.
@Bob Willis not closed yet, but disclosures show $2333 origination costs ($238 points, $1500 origination fee, $595 processing)
$725 appraisal, $9 flood cert, $66 tax service
$1125 for closing protection letter, endorsement fee, title insurance, settlement
$95 recording
$391 prepaids
$961 initial escrow
Total closing costs $5705
Just curious. How many units is that? Sounds kind of high with fees involved.
I have a 2 unit duplex in los angeles currently at 4.125% 30 year mortgage that was done back in 2016. I got offered recently 3.62% 30 year fixed cash out refi with about $6000 in fees.
This was a single family.
Well, it was about $1300 in taxes/insurance costs and $4400 in loan costs. Total costs were about 2% of the loan....which is pretty reasonable. I'm not seeing anything under 4.5% for non owner occupied. I challenge anyone to share those resources that are legitimate.