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Updated over 6 years ago on . Most recent reply

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44
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Noureen A S.
5
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44
Posts

Cash-Out Refinancing: Difficult for the Self-Employed?

Noureen A S.
Posted

After I've owned my first rental for a year, I hope to cash-out refinance the property (rental not purchased yet; still in analysis phase).

But I recently (read online) that cash-out refi's are difficult for the self-employed.

Have any of you found this to be the case?

Through my research on BP, I learned that its harder for the self-employed to get conventional loans (later on, my experience getting  pre-approved for a conventional loan confirmed this)...

As a self-employed investor, is it just as hard to get a cash-out refi as it is to get qualified for a conventional loan? Or, is it harder than?

If it's just as difficult, then I should be in a good position as long as my business maintains its revenue in 2019... But if its more difficult, then I need to research how and what I need to start to doing to prepare myself for approval of the cash-out...

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