AN: I tried again, current balance 260k and cashing out 200, and I got 1.875% with no points/fees.
Popping it up to 250k out showed the same offer, plus one with a lower APR (1.75% + fees that bring it to 1.80%).
If I grabbed the no-fee 250k cash out offer, the interest on my cash out would be $4687.50 the first year and the EVM tax free Cal muni would pay $10,600, resulting in an after-tax gain of $5912.
It seems that the very best rate is with a 285k cashout, which has a 1.875 rate with $700 lender credit. Going a tiny bit higher to 290 causes the rate to go up to 2.25%, so there seems to be some threshold balance of around $545k that greatly increases the rate.
