Cash Out on 5-10 Financed Properties After This Weekend

[Stephanie Medellin]

This weekend an update to the automated underwriting system that lenders use is going into effect.  It's going to evaluate multiple financed properties differently, and will be removing the restriction on cash out for over 4 financed properties.  This means that cash out on 5-10 financed properties is going to be a reality for loans that will be sold to Fannie Mae.

Hopefully quite a few lenders will be updating their guidelines and offering this right away.  Great news for investors that want to refinance and take cash out of investment properties!