Loan options for a cash paid property

[Sunil Sharma]

Hello,

We just bought a townhome in Harvey, IL, all cash paid. This is already rented on M2M.

What are our options to get most of our money back so that we can invest in other good properties? 

PML or DSCR loans or any other type of loan with reasonable interest rates.

Appreciate your guidance and referrals!

Sunil

[Jeff Copeland]

I you have sufficient credit and income, and the patience to deal with the application and underwriting process, a conventional cash out refinance into a 15 to 30-year fixed rate loan will get you the best terms, at 75 to 80% max LTV.