All Forum Posts by: Aamir H.

Pretty good terms. Most small banks or credit unions I have talked to are doing 20 year amo. The points generally range from .5 - 2% so that's pretty typical. If you are looking to improve cash flow vs pay down the property there is I/O options available with rates from 4.5 - 5.75% from various lenders out there.

In the same situation had 2 non qm loans in process for a cash out on single family property in DFW and suddenly everything halted. If any one has any alternative non qm lender or of like that they wouldnt mind sharing would be very much appreciated. 

 I am about to work that strategy into my next deal. Best couple options I know of other than that would be

1. Hold a a deal in hard money, private money or cash until 6 months and do a cashout

2. Use a national asset based lender and there is no need for seasoning but you will pay roughly an extra 1% - 1.5% on your rates

@Anup Shah   I am about to work that strategy into my next deal. Best couple options I know of other than that would be 

1. Hold a a deal in hard money, private money or cash until 6 months and do a cashout

2. Use a national asset based lender and there is no need for seasoning but you will pay roughly an extra 1% - 1.5% on your rates

Has anyone worked with a bank that can do a conventional 30 year cash out refi without having to wait the 6 month seasoning period. Preferably would like at least 75% LTV. Currently in a deal all cash already got it rehabbed and rented. Just looking to pull the money back out to reuse in the next deal. Would also love to hear of any other strategies being used in a like manner.

Any help or advice would be appreciated.

Thanks in advance.