No Cash Out refi options due to Covid?

[Freddy Morgan]

Over the last few days, a couple of local banks told me they "are not currently offering cash-out refinancing on investment properties due to Covid impact concerns". Have any of you heard anything similar?

Very new to rental property investing so I'm hoping this is an isolated local/small bank issue. 

Thanks in advance for your help! 

[Alex Bekeza]

@Benjamin Seibert Much appreciated!

@Freddy Morgan A lot of small depository institutions have tightened up their risk profile quite a bit in the wake of Covid.  There are much more aggressive private lending companies whose sole business is writing real estate loans. I'd say cash out accessibility is nearly back to where things were Pre Covid on the private/commercial/portfolio side.