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Updated almost 2 years ago,

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4
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1
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Chris Nappi
1
Votes |
4
Posts

REFI Primary Residence out of a hard money loan

Chris Nappi
Posted

60 second recap. Utilized a hard money loan last summer to be a cash buyer on our new primary home. Was going to buy down and refinance to under a 50% LTV with the sale of investment property in San Francisco. Unfortunately took over 6 months to buyout a tenant and sell that other property. It sold for about $800k less than anticipated. Of course, rates went up as well which didn't help the process. Looking for a product that will allow for us to use projected rents on our old primary home (looking to sell) and a vacation home to help hit the DTI on the REFI. Obviously lots of moving parts. Please don't hate. Just looking for a viable solution to stop the bleeding. Lots of equity, bad time to sell. Thanks.

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