Home Equity Line on new Investment property

[Michael Medeiros]

I"m looking to take $ out of an investment property I purchased recently- checking to see if folks have any references/ sources outside of traditional banks.

I have $150K 1st mortgage, appraisal at $369K but have only recently purchased the property. I've been told I need to hold house for 1 YR but thought it's worth asking the BP community.

Thanks!

[CK Hwang]

Hey Michael, you might want to try the mortgage company called Prime Lending. They were willing to do cash out refi, 1 day after the property is bought or 6 months after if the property is held in an LLC. I'm not sure if they lend on property in MA, but worth giving them a call. My point of contact is as follows

Scott Storace (irvine, CA)

Production Manager at PrimeLending

949.973.0141 – Direct

866.893.7822 - Fax

PrimeLending NMLS 13649. Equal Housing Lender.