Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Michigan Real Estate Q&A Discussion Forum
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 7 years ago,

User Stats

6
Posts
0
Votes
Jon Penhorwood
  • Investor
  • Muskegon, MI
0
Votes |
6
Posts

Refinance friendly Michigan banks

Jon Penhorwood
  • Investor
  • Muskegon, MI
Posted

Hey fellow BiggerPockets members & Michigan investors!

I am currently trying to find a cash-out refinance-friendly bank in the Lansing (or Michigan) area.  

I own a single family rental property in Lansing, MI in a 50:50 partnership.  We purchased the property with cash (along with upfront rehab) >6 months ago, own it outright, and are trying to find a bank that is easy to work with in order to do a cash out refinance.  

Anybody know of a bank in the Lansing (or Michigan) that they've worked with in the past that had a smooth process w/ the cash-out refi?  

If yes, what bank did you use?    

We plan to get this property insured for the bank; however, did the bank you used also require every other single rental property you owned to be insured as well?  Some banks are telling us they require all other rental properties to be insured, which seems a bit excessive if we're only doing a refi on a single property with plenty of equity.  

Any bank info, tips, & contact info is greatly appreciated.  

Thanks!

Loading replies...