Refinance Owner-Occupied Airbnb Property

[Jesse Lee]

I’m looking for a lender who can help with a refi + cash out. Goal is to max cash-out amount at the rate/points that make the most financial sense. Background below -

-Owner-occupied 3-unit property located in Bay Area, CA. One unit is my primary residence, the other two are rented out on Airbnb for last couple of years. Airbnb income is reflected in tax returns.

-Current mortgage balance $600k. I pay $4k per month, PITI.

-Estimated home value: $1.7mil

-Current credit scores around:

1. Experian FICO Score 8 = 760; FICO Score 2 = 785
2. TransUnion FICO Score 8 = 735; FICO Score 4 = 770
3. Equifax FICO Score 8 = 755; FICO Score 5 = 735

-$25k outstanding credit card debt, $700 min monthly payment

-$400k in student loan, ~$1200 monthly payment on income based repayment plan

-W2 income ~$180k, which is base + annual bonus.

1. Since we invested heavily in the property over the past few years, have paper losses, total income around 2018 137k, 2017 100k

-Rental Income:

1. Airbnb income was around 70k in 2018 with significant down time for remodeling. Was active for about 8.5 months, generating $8k / month

1. All remodeling has been completed

1. Long term market rate for 2 units would bring in about $67200 per year.

Thanks in advance.