Author Topic: Refinancing Investment Property  (Read 3805 times)

PandaAtlanta

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Refinancing Investment Property
« on: October 14, 2020, 07:56:03 AM »
Just wanted to ask to see if any of you recently refinanced one of your investment properties and what rate and closing costs you paid.

couchfi

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Re: Refinancing Investment Property
« Reply #1 on: November 23, 2020, 11:34:34 PM »
3% after paying 4.5k on a 250k loan. Haven't seen investment property rates below 4% before, so pulled the trigger and did it.

PandaAtlanta

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Re: Refinancing Investment Property
« Reply #2 on: December 18, 2020, 08:07:39 PM »
Couchfi,

Thanks for sharing your numbers. i refinanced two of my rentals on Dec 11th and will be refinancing two more on Dec 22nd. I am also getting 3% 30 year fixed but will pay it down like a 20 year by paying the same principal and interest before the re-fi. My average rate on my entire mortgage portfolio is right at 2.82%. I think that 2010 was one the best times to buy physical real estate and 2020 is one of the best times to refinance.

11/04/2020: $284k at 3.0% with $3500 closing costs. 4.0% to 3.0% break even is about 16 months
12/11/2020: $128k & $129k at 3.0%  with $1950 closing costs. 4.2% and 4.0% to 3.0% break even is about 10 months
12/22/2020: $123k and $121k at 3.0% with $1250 closing costs. 4.625% and 4.5% to 3.0% break even is about 7 months

Waived escrows at no extra charge.





3% after paying 4.5k on a 250k loan. Haven't seen investment property rates below 4% before, so pulled the trigger and did it.
« Last Edit: December 18, 2020, 08:48:05 PM by PandaAtlanta »