Mortgage lender

[Connor Swalm]

I am an investor from Delaware and I am looking to turn a recent flip into a rental, but I need a company to give me a mortgage to refinance my money out. A local bank I work with is willing to approve me for a mortgage worth 70% of an appraisal of the property, but I was thinking that was a little low. My target is an 80% refinance, so does anyone know of a company (local or not) that approves mortgages for around that amount or possibly more? I do not have an LLC set up yet (i am starting the process soon) so it would be a personal mortgage.

Any advice or recommendations are appreciated.

[JD Martin]

My banks do 75% LTV after 6 months, or 75% of purchase price on an immediate. You are going to have trouble doing 80% through conventional funding, but you might be able to find someone to float you a note on the 5% difference.