Ineligible for Conventional Loans 6-10 if I do Cash-Out Re-Fi?

[Jason Brenizer]

I spoke with an investor friendly lender today who said that if I do a cash-out refinance on one of my 5 SFR properties (all of which have conventional mortgages), then I won't be able to get conventional loans on investment properties 6-10. I asked her for how long? She said indefinitely, which made me think there's some information missing. I'm in Texas, if that even makes a difference.

I'm wondering if any investors have been thwarted by this, or if any BP members who are in the lending side of the business can shed some more light on this. Thanks!

[Graham Parham]

That is incorrect. We allow for cash out loans for investors up to 6 loans. We can certainly help you. www.texasinvestorloans.com