Financing in Brooklyn>Question Details

Nutley, Home Owner in Brooklyn, NY

I have credit score of 720, owe 350k on home worth 850k .3 family. My loan is 5.375% apr. Can a do a cash out re-fi (125k) & get rate of 4.375%

Asked by Nutley, Brooklyn, NY Tue Oct 11, 2011


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Nutley, it is possible, but it'll also come with closing costs & potentially points, and those costs will vary depending on if the 3-family is owner occupied or non-owner occupied. I'd call a few places and get some quotes.
0 votes Thank Flag Link Tue Oct 11, 2011
The best person to ask is a local and trsuted loan officer, anyone else is guessing without looking at your credit and financials. Be careful giving out fin. info online... With good credit and investment property most loans are looking at 70-75% loan to value. looks like you will be good if it appraises
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0 votes Thank Flag Link Tue Oct 11, 2011
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