Forgotten Your Password?

Need to Register?

Question Icon

4 plex refi rate

We have 4plex that was appraised last year at 260k we owe 226k on it. is 5.25 percent loan non owner occupi for 30 years the best we can do? We have a credit score of 740. We simply want to get a better rate with no cash out. by winst3_961_228 from Burlington, Alabama. Jun 27th 2012 Reply


Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions

It depends on too many factors you didn't include. Based on your info, you are over 86% LTV assuming you haven't lost value in the last year. 5.25 isn't bad, but to know if you can do better, you need to provide all the details. You might try checking your offer against what one of their competitors can offer. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

Jun 27th 2012
1
0
Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

we can not use anything on value older than 4 months.. If you would like , send me your address and i will do a property analysis for you free.. yourloanpartnerforlife@live.com linda

Jun 27th 2012
0
0
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

When it comes to interest rates, no reputable mortgage broker / banker will just throw out a rate based on the limited information you provided.. And current laws make it illegal to quote a rate without quoting the APR along with it... This is what I can say for sure.. Rates are lower than they have ever been, and there's never been a better time to refinance.. There are lower rates out there that are lower than the 5.25 you currently have.. so if you want to see for sure... , you should contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jun 27th 2012
1
1
Ralph Richard Guertin (ralph@absolutelowrates.com)
#58 ranked lender in Georgia - 807 contributions

for the most part, 75% is max LTV on investments, and if that is the case and you pass all the other requirements then I could see you around 4.375 give or take....

Jun 27th 2012
0
0
Subscribe to our news feed.