I would like a cash out refinance?

It is all about risk. Statistically, those who take cash out against their home default at a much higher rate. So while you feel you are a good risk, you are lumped into the higher risk pool. Higher risk always equals higher interest rate because lenders need to set aside some of the normal profit margin to cover the known higher default risk. Generally the cash out refinance rate is just 1/8th higher than a no cash out. For cash out refinances in MN, WI, and SD, visit me at www.Minneapolis-Mortgage.com

Terms are built on several factors for your rate, each pose a "risk" factor which determines the rate. Primary home is the safest. Loan size is another as well as LTV. Fico also comes into play. I ran a scenario that would be considered conforming loan amount at 75% LTV and the fico you mentioned....seems the rate being offered is about what the market is. Feel free to contact me if you wish. 562.254.5616.

As others have said, risk vs. reward.. cash out refi's are riskier and come with higher rates.. loan to values over 60% also are more risky.. and are prices as such.. As far as rates goes.. without looking at your complete loan profile, it's hard to say if that's a good rate or a bad rate.. but i'd be happy to quote you either way.. I'm a preferred Lender with California and Arizona being my primary markets. 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 NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893

Contact your bank & ask for a HELOC. | John Burke | Senior Mortgage Banker | Great Plains Bank | http://www.valoansdoneright.com | (877)228-9069 | Lending in ALL 50 states