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Updated about 4 years ago,

User Stats

19
Posts
6
Votes
Joshua Powell
  • Real Estate Agent
  • Capital Region, NY
6
Votes |
19
Posts

Cashout Refi Owner Occupied duplex - 90 LTV possible? Upstate NY

Joshua Powell
  • Real Estate Agent
  • Capital Region, NY
Posted

Title says it all, looking to cash out refi the duplex I bought 8 months ago. Spent a fortune on renovations since I had no idea what I was doing, but I learned alot and have at least raised the value a bit. Owe $123k on the property and see the ARV being between $185k-$200k (being conservative of course). I tried a few banks and credit unions and they all keep saying 85 or 90 LTV is not possible on a cash out refi of a duplex even though its owner occupied. Anybody able to shed some light on this or recommend some lenders in the area that would?

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