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Updated over 10 years ago on . Most recent reply
Financing a Rental Property
I have an existing single family home that I want to mortgage, cash out and rent.
Last year I was able to get a 4.6% 10 year balloon mortgage for this type of investment property from an online lender. This year I am finding all avenues for borrowing against this property and cashing out are blocked or relatively expensive (like 6.75%). 6.75% would not make sense for this deal.
I am in New Mexico. Can people let me know how people are financing rentals these days?
>KNC<