Cash out Refi on Small Multifamily (Seattle)

[John Barrett]

Hello,

I am looking to hear about others experience doing a cash out refi using Fannie Mae small loan program? I have engaged in gathering information from one of the vendors listed on Fannie Mae’s website but this is new territory for me and I would like to hear from others who have successfully navigated this process.

Specifically, what surprised you about the process and were there anything you wish you had known about upfront that would have impacted your decisions about using this financing option?

Did you decide to accept an interest only period and do you have any feelings about this good or bad?

Anything else you can think of that you believe people should know about this financing option or loan product?

Thank you and I look forward to learning from the wisdom of this community.

John