Refinancing Options

[Jose Pomales]

Hi, 

I have a question about the Refinancing part in the BRRRR. If I have a rental property with a mortgage on it and about 20% equity in the property, would I be able to refinance and pull cash out ?

Thanks 

[Jassem A.]

Probably not much. Few banks do HELOCs on rental properties and fewer would lend beyond 80% LTV. If you find any then I'd be interested to know.

[Jose Pomales]

you wouldn't happen to know which banks would do the Helocs on rentals would you ?

[Toby Mims]

You might want to check with a small community bank. Keep going from bank to bank until you find a "YES".  

[Clayton Plank]

@Jose Pomales, I agree with those above. Most that I have found will not lend more than 80 %. I just refinanced a few with Ameris Bank and they only offer up to 80%.

Clayton

[Jose Pomales]

Thank you for the feed back. 

[Joey Hamaoui]

Hey @Jose Pomales did you ever find a bank that would refinance over 80% LTV?