Private Lending & Conventional Mortgage Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 7 years ago,
NJ-cash out refi on investment property or equitly line of credit
Anyone have contact information for a lender who does cash out refinance on investment properties?
We have run into an issue with the appraisal/condo development where our investment property is located. On the appraisal it states that out of 250 total units, 147 are rental units, which is a percentage of 58.8%. Fannie/Freddie will not allow a rental/investor concentration of over 50%. I believe it's called non warrantable.
Or maybe an equity line of credit on investment property?
I have ~10 calls out to my contacts and all the major and local banks; looking for anyone with additional insight.
Thanks in advance.
We have run into an issue with the appraisal/condo development where our investment property is located. On the appraisal it states that out of 250 total units, 147 are rental units, which is a percentage of 58.8%. Fannie/Freddie will not allow a rental/investor concentration of over 50%. I believe it's called non warrantable.
Or maybe an equity line of credit on investment property?
I have ~10 calls out to my contacts and all the major and local banks; looking for anyone with additional insight.
Thanks in advance.