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Updated almost 5 years ago on . Most recent reply

Vincent Ngo's profile image
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Vincent Ngo
  • from Philadelphia, Pennsylvania
  • Member since May 13, 2016
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Vincent Ngo's profile image
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Vincent Ngo
  • from Philadelphia, Pennsylvania
  • Member since May 13, 2016
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Vincent Ngo
  • Philadelphia, PA
4
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Philadelphia Real Estate Forum

Refinance Investment Properties

Vincent Ngo
  • Philadelphia, PA
Posted

Hey all, 

Just wanted some thoughts- I live in Philadelphia and am hoping to acquire a property in my LLC. As far as my exit strategy; it is for a buy and hold and am wondering which banks/credit unions do you guys recommend to use in the Philadelphia area to refinance.

What are their typical terms and seasoning periods? Any other requirements?

Philadelphia, Pennsylvania
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Joseph Scorese's profile image
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Joseph Scorese
  • Banker
  • from Philadelphia
  • Member since Aug 25, 2009
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Joseph Scorese
  • Banker
  • from Philadelphia
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Joseph Scorese
  • Banker
  • Philadelphia
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Joseph Scorese
  • Banker
  • Philadelphia
Replied

Hi @

Welcome to BP.

Typical Terms:

4.125-5.375% Depending on Bank

5  Year Fixed

20-30 Year Mortgage

Some Charge Pre Payment and some Not

Also, this all depends on your credit, debt to income and financials.

Let me know if you have any questions.

Regards

Joe Scorese

  • Joseph Scorese
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