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Updated over 5 years ago on . Most recent reply

Enrique H.'s profile image
Enrique H.'s profile image
Enrique H.
  • from Indianapolis, Indiana
  • Member since Sep 5, 2015
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Enrique H.'s profile image
Enrique H.'s profile image
Enrique H.
  • from Indianapolis, Indiana
  • Member since Sep 5, 2015
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Enrique H.
  • Indianapolis, IN
4
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Indianapolis Real Estate Forum

Cashout refinance rental indianapolis

Enrique H.
  • Indianapolis, IN
Posted

Hi,

I have 4 free and clear sfr that I own, I want to do a cashout refinance. 

can anyone please recommend a bank here in indy?  should I work with a Indianapolis bank or can I work with an out of town bank?

Thank you in advance for any advise/ help.

Indianapolis, Indiana
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Jerry Padilla's profile image
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Jerry Padilla
  • Lender
  • from Rochester, NY
  • Member since Mar 25, 2014
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Jerry Padilla's profile image
Jerry Padilla's profile image
Jerry Padilla
  • Lender
  • from Rochester, NY
  • Member since Mar 25, 2014
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Jerry Padilla
  • Lender
  • Rochester, NY
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Jerry Padilla
  • Lender
  • Rochester, NY
Replied

@Enrique H.

You just need to work with a lender that is familiar working with investors and able to lend in Indiana. 

You can cash out 75% LTV on a SFR investment property. After 6 months from purchase you can cash out based on the value of the property.

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