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Updated over 5 years ago,
Cash Out Refi Question
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!