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Updated over 6 years ago,
Does a cash-out refi product exist that will exceed 75% LTV?
Good Morning everyone! I'm in the middle of a flip right now and ran into some unexpected major expenses so I'm considering holding onto this property for a few years as a rental then possibly selling in 5+ years. I purchased the property for $138k (including closing costs) and the renovations will come in around $90k. The ARV of this property should be $265k. If I seek a conventional 30-year fixed mortgage I believe the LTV limit is 75% (which would leave me with $30k invested in this deal). I really don't wish to leave that much capital in this deal if possible so I'm wondering if anybody has seen a lender go to 80-85% LTV in an non-owner-occupied investment property. Thanks in advance everyone!