Cash Out Refi Question

[Kelly M.]

Hi Everyone!

I'm finally almost done renovations on my three unit property and I have leases on all units. I want to do a cash out refi. My lender says they can do up to 70% LTV. I was just wondering how common 75% is and if I should go through the trouble of looking for a needle in a haystack...or 75% LTV is common?

It’s zones historic commercial. Two residential units, one commercial. Loan balance is $140k. Appraisal estimate likely $325k-$400k. Comps are extremely difficult in this area. Units are so different.

Anyway, just the LTV is my question. What's the most common %

Thanks!

[Kelly M.]

@Nicole Frawley thank you. Then maybe 70% is too conservative, and 75% is realistic.

Thanks again