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Updated almost 2 years ago on . Most recent reply
Looking to refinance two properties that I have free and clear to reinvest
I have two properties, 5 apartments in Covina Ca and 8 in upland Ca, that I have free and clear that I would like to pull money out and purchase additional apartments. looking for a few mortgage brokers to give me some idea of how much money I call pull out and terms of loans.
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Jack Tulloch
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#2 Mortgage Brokers & Lenders Contributor
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- Austin, TX
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Jack Tulloch
#2 Mortgage Brokers & Lenders Contributor
Pro Member
#2 Mortgage Brokers & Lenders Contributor
- Lender
- Austin, TX
Hey Andy - in general, you can pull out up to 75% of the appraised value assuming you have 6-months of seasoning on the assets. Rates/terms will depend on the type of loan your are looking for and are able to qualify for.