Letter of purpose of funds/cash-out refinance

[Joseph Mallon]

Hello, I am in the middle is a cash-out refinance 80/20 LTV for a jumbo loan. My lender is asking for a letter describing the reasons for the cash-out refinance and what I plan to do with the money.

My plan is to invest in additional investment property and invest in several ETF’s or low-cost mutual funds. Basically buy assets not liabilities. 

Will this be a sufficient explanation that will likely allow my loan to be approved? 

Thank you to all for your opinions. Any lender opinions would also be greatly appreciated!

Thank you,

[Zack Karp]

@Joseph Mallon

My cash out will be used for investment purposes.

The End.