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Updated over 6 years ago,

User Stats

99
Posts
53
Votes
David Mathews
  • Lake Charles, LA
53
Votes |
99
Posts

Any Refi advice or experience out there?

David Mathews
  • Lake Charles, LA
Posted

Hello. Seeking a little help with questions on  refinancing a rehab.  I am currently  looking to refinance  a brrrr property that I own outright and recently finished remodeling. This is my third property and second one to refi.  So here's the question...

Are there any lending institutions that offer a normal fixed-rate 15-year mortgage for an LLC? Currently my first brrrr property is financed with a 20 year amortization but has a balloon payment after 5 years. I would rather lock in a rate and end up paying it off rather than keep refinancing after 5 years. The problem is I've called around to a few banks in my area and they all seem to do the same practice for rental property. Can someone steer me in the right direction to get something more stable and long-term?

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