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Updated almost 4 years ago,

User Stats

143
Posts
42
Votes
Michael H.
  • Rental Property Investor
  • Houston, TX
42
Votes |
143
Posts

Lender pulled plug on conventional refis for rentals as of monday

Michael H.
  • Rental Property Investor
  • Houston, TX
Posted

Hey BP family,

Ive got another property into hard money, started the conversation early with the lender to refi out of hard money,and they sent me packing. something changed monday, and they said for the next month or more their investors pulled funds and didn't want any more investment properties or second homes.

So how should I go about finding a conventional fannie/freddie lender who will allow me to refi 75% LTV under 6 months, without a tenant, based on the market rents the appraiser brings back? is this sort of lending now dead? is this a short term hiccup?

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