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Updated over 8 years ago on . Most recent reply

User Stats

22
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7
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Abraham Bar
  • Investor
  • Palo Alto, CA
7
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22
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Best xash out lender

Abraham Bar
  • Investor
  • Palo Alto, CA
Posted

Hi everybody, 

I'm  buying a triplex in stockton, CA for cash. I'd like to do a cash out loan ASAP.  My understanding is that this would not be a commercial loan but a regular non owner occupied mortgage.   

Non sure what the best way to approach this would be so I'm asking for your advice.  Who would you recommend as lender?  What kind of interest rate can I expect? 

Thanks 

Most Popular Reply

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5,116
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5,171
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Kyle J.
  • Rental Property Investor
  • Northern, CA
5,171
Votes |
5,116
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Kyle J.
  • Rental Property Investor
  • Northern, CA
Replied
Originally posted by @Walter Purdy:

Not sure if I fully understand your situation based on how it was described, sounds like you're trying to buy a property cash then immediately use the equity for a cash out refi? If you get a tripled financed it would most likely be a non owner occupied conventional loan. You'd need a good amount of equity to do a cash out refi ASAP

If he buys it with cash, he'll have a 100% equity.

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