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Updated over 8 years ago on . Most recent reply

User Stats

24
Posts
7
Votes
Peter Crabtree
  • Investor
  • Jefferson City, TN
7
Votes |
24
Posts

Refinancing for a BRRRR

Peter Crabtree
  • Investor
  • Jefferson City, TN
Posted

I am finally seeing a light at the end of the tunnel on my duplex rehab and am starting to move towards renting. Thinking ahead, does anyone have any recommendations for the refinancing step? Unfortunately I am over budget, so I probably won't get all my down payment and rehab cost back out, so the higher percentage loan to value the better. I haven't had much luck talking to local branches. I would like to work with a local bank (Knoxville / East TN) but good terms trumps keeping local. I'm also aware I will probably have to wait until the property is "seasoned" before I can proceed on this phase. Any suggestions are greatly appreciated!

Most Popular Reply

User Stats

450
Posts
270
Votes
Chris Eaker
  • Buy and Hold Investor
  • Knoxville, TN
270
Votes |
450
Posts
Chris Eaker
  • Buy and Hold Investor
  • Knoxville, TN
Replied

I have used First State Financial out of Middlesboro, KY, on a few properties. They will do 85% LTV on 25-yr amort with no seasoning requirement. Last I checked, the rate was 4.5% fixed for 6 yrs. Send me a message and I'll give you contact info for my contact.

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