Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago,

User Stats

199
Posts
22
Votes
Tyson Hosey
  • Rental Property Investor
  • St. Louis, MO
22
Votes |
199
Posts

What do smaller banks look for to refi?

Tyson Hosey
  • Rental Property Investor
  • St. Louis, MO
Posted

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.

Loading replies...