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Updated over 8 years ago on . Most recent reply

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142
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Fred Stevenson
  • Investor
  • Baton Rouge, LA
49
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142
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need to refi multiple properties

Fred Stevenson
  • Investor
  • Baton Rouge, LA
Posted

I'm looking to find one company that can do a cash-out refi against the equity I've built up in multiple properties in different states through one loan.  I came across Dwell finance, BR2, and Fox commercial capital.  Does anyone have any experience with these companies, or are there others that you can recommend?

Most Popular Reply

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Jerry Padilla
#5 Classifieds Contributor
  • Lender
  • Rochester, NY
1,419
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3,451
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Jerry Padilla
#5 Classifieds Contributor
  • Lender
  • Rochester, NY
Replied

@Fred Stevenson

@Dave Carpenter

Freddie Mac allows you to cash out refinance on appraised value after 6 months on up to 6 financed properties. Anything beyond that is that personal lenders overlay. Fannie Mae only allows up to 4 financed properties. So if you have greater than 4 you need a lender that can work directly under one guideline or the other, not both or you will be limited to 4 mortgaged properties to cash out refinance.  

On an investment property; A SFR if you have #1-6 mortgaged properties, you can pull out up to 75% of the equity and on 2-4 units is up to 70% equity.

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PrimeLending
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