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Updated over 4 years ago on . Most recent reply

Richard Lutz's profile image
Richard Lutz's profile image
Richard Lutz
  • Specialist
  • from San Diego, California
  • Member since Apr 19, 2018
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Richard Lutz's profile image
Richard Lutz's profile image
Richard Lutz
  • Specialist
  • from San Diego, California
  • Member since Apr 19, 2018
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Richard Lutz
  • Specialist
  • San Diego, CA
5
Votes |
16
Posts
Private Lending & Conventional Mortgage Advice

No investor loans for Cash-out Refinance due to COVID!?

Richard Lutz
  • Specialist
  • San Diego, CA
Posted

Due to COVID banks are no longer allowing cash out refinance on Investment loans. When investing out of state, how is everyone handling this?

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Elliot Rivera's profile image
Elliot Rivera's profile image
Elliot Rivera
  • Rental Property Investor
  • from Fort Lauderdale, FL
  • Member since Jul 26, 2015
  • Posts 28
  • Votes 12
  • Experience 15 Yrs
  • Investments 9
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Elliot Rivera's profile image
Elliot Rivera's profile image
Elliot Rivera
  • Rental Property Investor
  • from Fort Lauderdale, FL
  • Member since Jul 26, 2015
  • Posts 28
  • Votes 12
  • Experience 15 Yrs
  • Investments 9
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Elliot Rivera
  • Rental Property Investor
  • Fort Lauderdale, FL
12
Votes |
28
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Elliot Rivera
  • Rental Property Investor
  • Fort Lauderdale, FL
Replied

I am in the middle or a portfolio cash out refinance so I would concur with Charles. There are banks that will lend in this environment if you are willing to put in the leg work to find them. We called more than 50 banks before settling on a Credit Union with the terms we were looking for. 

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