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Updated over 6 years ago on . Most recent reply

Jeff S.'s profile image
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Jeff S.
  • Investor
  • from Eugene, Oregon
  • Member since May 31, 2013
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Jeff S.'s profile image
Jeff S.'s profile image
Jeff S.
  • Investor
  • from Eugene, Oregon
  • Member since May 31, 2013
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Jeff S.
  • Investor
  • Eugene, OR
15
Votes |
30
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Creative Real Estate Financing

Loan off paid for rental

Jeff S.
  • Investor
  • Eugene, OR
Posted
What options for finance would be suggested for getting a loan with little $ down? I have a house worth $190,000 that will is mortgage free. It’s in an LLC in New Hampshire. It’s rented for $1250/mo. Thanks in advance for your advice.
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Harjeet Bhatti's profile image
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Harjeet Bhatti
  • Lender
  • from Glenview IL- CDLP NMLS#230554
  • Member since Apr 21, 2015
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Harjeet Bhatti's profile image
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Harjeet Bhatti
  • Lender
  • from Glenview IL- CDLP NMLS#230554
  • Member since Apr 21, 2015
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Harjeet Bhatti
  • Lender
  • Glenview IL- CDLP NMLS#230554
746
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Harjeet Bhatti
  • Lender
  • Glenview IL- CDLP NMLS#230554
Replied

You have to keep 25% equity in the home to cash out. Mostly lender won't cash out under LLC for conventional loan. You do have option under commercial loan.

  • Harjeet Bhatti
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