LTV options for a 3-unit Investment Property

[Kwame Essieh]

I'm looking at doing a cash-out refinance on a conventionally mortgaged triplex that I don't live in. When I did my initial research online it looked like I could get up to 75% LTV for this, however after talking to a credit union and Homebridge I was told that only 70% LTV was possible.

Should I keep shopping around for a company that can do a 75% LTV or is 70% my only option?

[Keith Pinster]

If you want to get as much as you can with the best options, you should keep shopping.  It can't hurt.  Sometimes it takes a little legwork to find the best deal.  Every FI is going to have different terms and requirements, so it's best to get as many options as you can before making the final decision. Just keep in mind that a lot of those may have expiration dates, so try to gather all this info as quickly as possible so you aren't considering stale options.