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Updated over 7 years ago,

User Stats

47
Posts
4
Votes
Fred Gonzalo
  • Englewood, NJ
4
Votes |
47
Posts

CASH OUT REFI on paid investment properties

Fred Gonzalo
  • Englewood, NJ
Posted

Hellp BP World!

 Looking to see if anyone has experience and what the avg numbers are for cash out refi on rental properties owned free and clear.

I am in New Jersey ..does anyone know a good small bank I can get in touch with that are reputable.?

I have property free and clear with tenants providing good cash flow...I wanted to see If i can refi one of those properties and use the cash for a new property im looking to get. And whats a good number..  ex... 75% of what house appraises for..6% intrest for 15 years?

Should the underswriter have a easier time with this project rather than a reg home mortgage? 

Thanks so much.

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