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All Forum Posts by: Don Chang

Don Chang has started 0 posts and replied 1 times.

Spokane Real Estate Forum

Post: Pay for a REFI or Stay with Hard Money?

Don ChangPosted
  • Posts 2
  • Votes 2

A couple years ago I got a BECU 12 yr no fee fixed loan on an investment property https://www.becu.org/loans-and-mortgages/home-loans/fixed-rate

I do not know if they still have this program for non owner occupied anymore but worth asking.  This could be an option if you don't want to pay the closing costs on a refi.  When I did my refi I didn't have to pay any closing cost at all even the appraisal was free.  Having the loan amortized at 12 yrs isn't ideal for cash flow but comparing 3.526% to your 11% rate you should be improving your cash flow by a couple hundred dollars a month with no cost to you.

2 Votes
Spokane, Washington