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Updated almost 7 years ago,
Portfolio Loan: Cash-Out Refinance?
Hello BP Peeps!
I'm a newbie to real estate investing and would appreciate any knowledge you can share. I bought a single family and duplex in the past few months and would like to apply for a Portfolio Loan: Cash-Out Refinance on both Properties. I called a handful of local banks. Flagstar Bank called me back and sounded enthusiastic about lending me the $.
Two Questions:
- Does anyone have any experience with Flagstar Bank?
- Is it wise for me to ask for a Cash-Out Refinance Loan? I'd like to buy more properties and use some of the extra funds to pay off the loans on these first two properties