Highest LTV on cash-out financing

[Andrew Kniffin]

Hello all-

I recently bought a SFR here in Bremerton, Washington state. It was purchased all-cash from FannieMae (Homepath). It is currently being rehabbed.

Purchase price was $105K.  I'll put in ~$15K additional in rehab.  Post-rehab, I think it's value will be ~$175K.  

I'm looking for the highest LTV I can extract from this property after completing the rehab. Does anyone know of >80% LTVs being offered on investment properties? If so, what financial instutions are providing these loans?

Thanks in advance for any input!

-Drew Kniffin

Keywords: Kitsap County, Washington, BRRRR, Tacoma, Pierce County, Snohomish County

[Scot Howat]

80% is usually the max because if you're over your lender will require mortgage insurance, and most mortgage insurance companies will not insure an investment property because there's a much higher rate of default. 

You can't get much higher on the LTV, but you can get a higher value. Try refinancing right after a good comp gets sold. It's your best bet to get the highest value, and thus the highest loan amount.