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Updated almost 7 years ago,

Charles Kennedy's profile image
Charles Kennedy's profile image
Charles Kennedy
  • Rental Property Investor
  • from Philadelphia, PA
  • Member since Jun 24, 2015
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User Stats

213
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160
Votes
Charles Kennedy's profile image
Charles Kennedy's profile image
Charles Kennedy
  • Rental Property Investor
  • from Philadelphia, PA
  • Member since Jun 24, 2015
Connect
Charles Kennedy
  • Rental Property Investor
  • Philadelphia, PA
160
Votes |
213
Posts
Private Lending & Conventional Mortgage Advice

Lending on value not purchase price?

Charles Kennedy
  • Rental Property Investor
  • Philadelphia, PA
Posted

Hey BP,

Will any banks or CUs give a loan based on value rather than purchase price? I may be able to acquire a property below market that I plan to house-hack and was wondering they'd lend on value? That was I'm cashing out before even putting money in?

Or do I have to do a regular loan and then wait 6 months/1 year to refinance and then pull equity out?

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