Cashout Refinance For Non-Warrantable Condo Units

[John E Ceisel]

Hello BP!

I have 2 condos in San Diego that I'm looking to do a cashout refi for. I own 3/9 units in the building and already had a local credit union do a portfolio loan for 1 of them (30 year, 4.25% fixed, 75% LTV).

However, I'm having a tough time finding other portfolio lenders who will offer similar terms. Mostly, I'm getting offers for a 5/1 ARM. Since I've already done 1 of them, I know it's possible to get a fixed loan.. any advice on where I should be looking or other strategies for these 2 condos I'm working on? Thank you.