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Updated about 8 years ago,
What do smaller banks look for to refi?
Hey BP,
I'm under contract on a property (sub30 club woot woot). I'm securing the property with conventional financing with myself and my wife on the loan and title. I'm aware of the hassle/risk of transferring the title into my LLC with the due on sale clause and whatnot. Instead I'd rather just refinance the thing as soon as possible to really transfer the risk of litigation off mine and my wife's name. So I want to go a smaller bank and I'm interested in what they will be looking for when I go to them. I know that I should have very concise information in a notebook (heard @Brandon Turner talk about it quite a bit), but will they be looking for good LTV? Will they look for me to have had the property for 6 months or more (or less)? Less of the appearance of the information, but more of what the criteria would be.