Cash-out/Refinance a Non-Warrantable Rental Condo

[Sara Soleimani]

Hi all! We are trying to cash out from a Non-Warrantable investment condo (High percentage of non-owner occupied units) and not able to do it through conventional Fannie Mae loans. Did anyone have a similar experience? What other loan options we have? (other than private money/high interest rates)

Any advice is highly appreciated! Thanks:)

[Bob Cannon]

You can do a cash out on a Non-Warrantable condo up to 80% loan to value, with a portfolio loan. They will require 12 months on title for the cash-out, as well as 6 months reserves. Minimum 640 mid-score on credit.

Thanks,