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Updated over 12 years ago on . Most recent reply

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Andy M
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24
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cash-out investment property financing

Andy M
Posted

Hi I've got a 3-family I purchased for cash 9 months ago for 305k in the Boston area. I put about 80k into the rehab. I'm now trying to finance the property to take as much cash as possible out, but my mortgage broker is telling me that because I don't have a regular job I won't be able to get the mortgage. I would have thought that since this would be a commercial investment mortgage (I don't live there) my income would not be relevant.

To wit: where can I find a market-rate investment mortgage in which my personal income does not matter?

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