All Forum Posts by: David Kelly

@Chris Huang

Hi Chris, I am available to help today or this week if you want to get the process started. Feel free to reach out with any questions.

@Vince Espiritu

Most cases will require 6 months Of PITI for qualification purposes.

@Matt Corbett

I would be happy to help you with this. Feel free to reach out, or have me as a second look. Thanks

@Shiloh Lewis

What are your reasons for not going a conventional route?

@Miho Y.

It should not be taking that long. Are they having issues with anything? Are you locked at a low rate? My refinancing is taking 45 days or less. And that’s even for multi property refinancing. I know there are some bigger lenders out there like Wells Fargo that are taking a very long time but you should not have to wait that long. 

@Kinohi Larey

I suggest getting a second look at your income calculations and how they are calculating any rental income or other debts. You would be surprised as to what people can miss or miss calculate. If you have available cash sitting around we could possibly set up an annuity over a three-year span and give you instant monthly income. If you want me to run your taxes through my program called Loan beam feel free to get in contact.

@Joe P.

If you are going to get a Fannie or Freddie loan it is going to be impossible to get an 80% LTV cash out on an investment property.. In that situation I would suggest getting the 70 to 75% LTV and doing a second HELOC. This will open up some more cash for you.

Cash out refinance:

Primary residence 80%

2-4 unit primary residence 75%

Second home 75%

One unit investment property 75%

2-4 unit investment property 70%

Get ahold of me with questions!





@Lucas Rodrigues ferro

That doesn't sound right. FHA allows for up to four units.

@Jared Khan

You have a couple options. You can keep the closing costs within the loan which is typically how most refinances go. Or if you don’t have the extra equity you can get a slightly higher rate and get a lender credit to cover the closing costs.

The only option I see you using a credit card is getting cash from that card and bringing a cashiers check to closing. 

@Matt Wells

If you have equity and could use the cash to put towards something else you can refinance a primary residence up to 80%LTV and 70%-75%LTV on an investment property. The rates for a cash out refinance are slightly higher but still good right now.

You should look at a refinance if your rate is not in the 3’s or lower.

You have the option to do a rate/term refinance and get up to $2000 back, or a cash out refinance for anything over 2k. Keep in mind, you can pay off debt all within the cash out refi. Meaning the lender/title company pay your debts for you. It’s a great way to pay off high interest credit cards or student loans.