All Forum Posts by: Charles Hura

Hi - I am doing my first cash-out refi on a 2 unit I just closed on. I purchased the unit in cash and was told previously by banks I could immediately get a cash out refi of 75%. But now it looks like the fannie mae rules are a maximum LTV of 70% for a cash-out refi. (for what its worth, you can still get a 75% LTV loan at time of purchase) Does anyone know if this rule was just changed? any way around it? I assume local banks/lenders would go to 75% but I may not get as attractive of an interest rate.

Ive had really good luck with CF property ventures, had to go through a few myself to find.

I live in NYC as well and grew up in Rochester. I started investing there earlier this year. Let me know if you need any recommendations for brokers, attorneys, PMs, etc.