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Updated over 4 years ago on . Most recent reply
Recent Rental Property Refinance in SoCal?
Hi all,
Has anyone completed a refinance (cash-out or not) for an investment property in or near Los Angeles County in the last few months? I have a rental condo with about $210K in equity that I would like to cash out refinance. However the rate is at 4.0% (bought it as a primary residence) and I am afraid that even with today's low rates I won't get much better than that.
I have a very high DTI so I am looking for a lender who can work with that.
Thank you!
Most Popular Reply
@Daniel Kim there are options for you even if you have high DTI. As @Jared Rine said, with a high DTI you may not qualify conventionally but rates for cash out in CA are high 5s to high 6s, at around 70% LTV. DM me with specific questions but Id be happy to take a look.