Brrrr refinancing. Rocket mortgage lender?

[Jesse Soriano]

Hey guys. I’m purchasing my first investment property with a personal line of credit.

I'll be about all in for about 55k with Reno and ARV is about 75k.

Property is in Cleveland.

I was thinking about going with rocket mortgage for the refinancing part after 6 months. They are the only ones I see on google that do it.

Can anyone recommend me any lenders to do the refinancing so I have more options other than rocket mortgage? Or is rocket mortgage a pretty good option to go with? Are major banks an option? I bank with Bank of America

[Will Fraser]

Hi @Jesse Soriano!  I had the same thought . . . especially because my go-to lenders here are up to their eyeballs with non-digital processes and I thought, "hey, Rocket claims to be amazing".  

No dice.  Nothing doing.  Tackled for a loss.

Their minimum loan balance is something above $115k (it MIGHT be $150k, but I can't remember exactly).  This means it is largely irrelevant for conforming investment properties in my entire state, and on the property in question here.