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Updated over 5 years ago,

Account Closed
  • Flipper/Rehabber
  • Los Angeles, CA
37
Votes |
128
Posts

Cash Out Refinance With No Seasoning In Northwest Indiana?

Account Closed
  • Flipper/Rehabber
  • Los Angeles, CA
Posted

I have a property Im currently flipping in Crown Point, IN that I would like to refi rather then sell on the retail market. I just wanted to reach out here and see if anyone knows of any banks in Northwest Indiana that could help me with this kind of thing.

Here are the criteria that I need:

  • No seasoning period
  • Based off of Appraisal, Not purchase price
  • Qualifying based on the asset, not on w2 (I have no w-2, and about a 650 credit score)

The property would appraise for $220,000+ and there is currently a $115,000 first position on it that I would like to get paid off, and put the remaining cash in my pocket. Ideally I would like to pull out 90% LTV but am willing to settle as low as 70% LTV If I really really needed to.

If you know of anyone or any local credit unions, banks, or portfolio lenders that could help with this please let me know!

Thanks!

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