Financing out equity up to 80% LTV - Kalamazoo, MI area?

[Jacques Cyr]

Hey BP... Looking for a little finance options advice for the Kalamazoo / West Michigan area.

We have a small SF which we've recently finished the renovation; however, it wasn't completed until October, and therefore a bit late in the year to put on the market to get optimum retail for. With that, we've recently rented the unit, and would like to finance out the initial investment, plus reno cost, which should be under the 80% LTV equity position. Spoke one local lender and he informed me that all Fannie Mae / Freddie Mac loans now require full (1) year of ownership in order to refinance existing capital expenditures.

Any local suggestions (i.e. Credit Union)?

Or suggest looking into service like Patch of Land, B2R, etc...?

Thanks in advance for suggestion(s).

Jacques