I'm looking for a cheap rate on a rental refi if anyone has any ideas.
I just did a re-fi of an investment property (rental) using Bank of the Internet (BOFI) in San Diego through the Costco mortgage program. If you're an Executive member, the lender's fees are limited to $600, IIRC.
Of course, you still have 3rd party fees on top of that such as appraisal, prepaids, and title insurance fees. These are fees are are required no matter which lender is chosen.
Our rate was exceptional, and all went extremely smooth with an on-time closing.
If you're not a Costco member, you can still go to their website and check rates to see if it's worth it to join Costco to use this service.
I'd love to refi, and possibly take some equity out of my condo. I've never done anything like this as I've never purchased a home. My home was transferred to me by my father, but his name is still on the loan which is currently owned by chase at 5.5%APR. Any recommendations slickdealers?
Make sure you call chase directly to price out a refi. We had a loan through them and they were able to waive most of the fees for a refi. It also might make it easier if you escrow. We also had a branch so I was able to meet face to face with the loan officer. Get a few different quotes. The closing can vary huge depending who and where you talk to.
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