Which lender lets you 85% LTV?

[Dan W.]

I find plenty of lenders who can do 75% LTV on investment property cash out refi. I am looking to do 85% LTV. Ideally someone with lower interest rates and fees. Who can you recommend?

[John Warren]

@Dan W. I personally have not been able to do anywhere near 85% LTV. On my four unit I was able to get the standard 70% LTV when I refinanced it, and I was happy with that because I ended up with plenty of cash. I recently went through two commercial refinances on a six unit in Cicero and 19 unit in Berwyn. For the six unit I am with a local bank who gave me 80% loan to cost (not LTV). On the 19 unit my partner and I used fannie mae, which advertised 80% LTV but ended up at 75% LTV.

I personally think you are probably looking for a unicorn. You would be better served from a time perspective to get as much cash out as you can and move on to the next deal. 

[Dan W.]

Thank you for the response John. What about a portfolio loan so I can wrap 4 properties into one loan? That will be a lender who does more than just standard lending. Any recommendations?