Updated over 7 years ago on . Most recent reply
Cash out ReFi Lender
I’m looking for a lender to provide cash out ReFi’s for rental properties in ATLANTA. I have a local bank that I have used, but now they are wanting the properties to season longer. I buy properties cash, get them rent ready and the put a tenant in place. I’m just looking to get out the cash that I have put in the property. Any recommendations would be greatly appreciated.
Most Popular Reply
@Rush Wall As long as you have owned it for 3 months, 100% loan to cost (no more than 75% LTV) is available. These are commercial cash flow based loans, not Fannie Mae. Rates are a little higher than Fannie, you are not limited to a maximum of 10 loans like Fannie, and your personal debt to income does not come into play. Neither does the income on your tax return.