How do I get equity out of my home

[Joe C.]

I have 2 homes where my money is buried alive. I am trying to refi to free up money so that I can purchase a new home but the banks say that they will not refi my loan. Is there other ways to using equity to get a loan?

[Joshua McMillion]

@Joe C.

You could always look into commercial lenders that will lend up to 80/20 LTV. I have thought about going this route with the BRRRR I am actively doing, but there is a catch. The catch is that the rates are higher, and there are typically balloon payments at the end of the loan. 

I'm curious, why are the banks telling you that you can not REFI? From what I am seeing, a cash-out REFI is 75/25 LTV. If you do not have equity built into your home, you can not pull it out. 

Here is an article to help. 

Sincerely,