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Updated almost 7 years ago on . Most recent reply

Michael Davila's profile image
Michael Davila's profile image
Michael Davila
  • from Colorado City, Texas
  • Member since Sep 5, 2016
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Michael Davila's profile image
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Michael Davila
  • from Colorado City, Texas
  • Member since Sep 5, 2016
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Michael Davila
  • Colorado City, TX
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Private Lending & Conventional Mortgage Advice

Refinance Exisiting Rental

Michael Davila
  • Colorado City, TX
Posted

My partner is looking into refinancing his existing rental property that is on an adjusted rate. He owes around $35000 on the existing loan and a realtor stated to him that it should appraise for $70000 to $75000.

My question is what would be the best approach to get on a fixed rate and be able to get some money back in order to invest in future deals. We are located in Texas

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Harjeet Bhatti's profile image
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Harjeet Bhatti
  • Lender
  • from Glenview IL- CDLP NMLS#230554
  • Member since Apr 21, 2015
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Harjeet Bhatti's profile image
Harjeet Bhatti's profile image
Harjeet Bhatti
  • Lender
  • from Glenview IL- CDLP NMLS#230554
  • Member since Apr 21, 2015
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Harjeet Bhatti
  • Lender
  • Glenview IL- CDLP NMLS#230554
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Harjeet Bhatti
  • Lender
  • Glenview IL- CDLP NMLS#230554
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@Michael Davila You can cash out up to 75%LTV if its 1 unit or 70%LTV from 2-4 units.

  • Harjeet Bhatti
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