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Updated about 4 years ago,
Commercial loan on SFR refi?
Anyone ever do a commercial loan to refinance SFR's en masse under a blanket or a similar strategy? 15 of my SFR's have a ton of equity Icwant to tap and I'm curious what banks generally offer. I've read somewhere the longest term would be 20 years, but with the rates so low, it might still be the same from a monthly payment standpoint as using private lender money over with a higher rate w/ a 30 year term.
Also, what are the banks doing from a LTV standpoint on a cash out refi like this? 80LTV? Just wondering who has gone commercial credit like this and what opinions there are with respect to SFR's. I'm out if conventional access though on other properties outside of these 15 in scope here. Thoughts?