Portfolio Loan for Cash Out Refi in Illinois

[Sean Morrisey]

I have a handful of RENTAL properties I want to perform a 75%+ LTV cashout refinance upon and get a rate better than 5.50% amortorized over 30 years or more. Who lends in Illinois and can help me out?

[Zack Karp]

@Sean Morrisey you're not going to find anything much lower than that without paying points. That's about the going rate on a Conventional investment property cash out refi to the max 75% LTV. Assuming you have 740+ credit and these are 1-unit properties, maybe 0.125%-0.25% lower. Portfolio loan rates are likely going to be much higher than Conv.

Hope that helps, best of luck!