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Updated almost 5 years ago,
Looking for Refi referrals 85% LTV Duplex
Hey BP Folks!,
So I just signed a contract to build a duplex in SW Florida. Purchase price will be $265,000. Instead of getting a short term loan, the builder is financing it themselves (this cost has been built into the price). They have done a few of these in the same area, and they have all appraised between $300k - $305k. So theres a nice chunk of built in equity. I own the lot FREE and CLEAR. I paid $13,500 for it.
I am looking to refinance and get as much cash out as possible once construction is complete. I have spoke to one lender that said they do 85% LTV refi's pretty often. I would just like to talk to as many lenders as possible to get best idea of where I stand.
Please send me any contacts you might know, that do 85-90% LTV refis on investment properties (multi-family).
P.S. I have excellent credit >750 show good income and the property will cash flow GREAT!