Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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.
Baton Rouge Real Estate 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 5 years ago on . Most recent reply

User Stats

37
Posts
2
Votes
Chad Mayo
  • Real Estate Investor
  • Greenwell Springs, LA
2
Votes |
37
Posts

Need A Bank for Refi

Chad Mayo
  • Real Estate Investor
  • Greenwell Springs, LA
Posted

Currently renovating my first BRRRR property and looking for a bank that will let me cash out 75% LTV without a 6 month seasoning period...anyone have someone local I could use? I'm getting no's everywhere. (some national, some local)

Most Popular Reply

User Stats

7,926
Posts
6,317
Votes
Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
6,317
Votes |
7,926
Posts
Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
Replied

@Chad Mayo yeah, you will not have success with a "conventional" lender.  Meaning a lender that uses Fannie Mae or Freddie Mac (if you recognize those names) to govern their mortgages.  The good thing is that most banks will have "portfolio" options.  Meaning, money that comes from their own portfolio of funds.  Those loans are regulated by the bank itself.  So each and every bank's portfolio loan will be governed differently from the next bank's portfolio loan.  In order to find your loan you will literally have to call each and every bank.  Or, reach out to some brokers about the loan type.  Caution, brokers may not have a relationship with every bank so you may STILL have to call all the banks.  And I'm being literal here.  Calling 200 banks is not unusual for most investors.  Even seasoned investors are always looking for better financing options.  Smile and dial. Hope this helps.

  • Andrew Postell
  • Loading replies...