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Updated over 8 years ago on . Most recent reply
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need to refi multiple properties
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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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.
- Jerry Padilla
- [email protected]
- 585-204-6923
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