All Forum Posts by: Keith Garrison

I've got a few buy & hold properties that are doing very well. I've got an unused VA entitlement that I saved for my personal home. Almost everything I like is over the $417K limit for VA loans.

I've read that VA Jumbo Loans exist that only require a downpayment of 25% for anything over $417K. So if I wanted a house for 517K, I would only need to put down $25K + Fees & Closing costs.

My regular banks and credit unions don't offer this type of loan and I'm trying to avoid the PMI for a standard Jumbo loan. Anybody have any information on who does?

I've had the property for over two years, so seasoning is not an issue.  I appreciate the all the good advice, even the credit unions only offered 70%ltv.

I'll keep looking for other banks.  

BiggerPockets is great!!!

I am in Philadelphia PA.  I have a rental property that I just rehabbed that was appraised this week for $105,000.  I own the property outright but two credit unions have told me that cash-out refi is not offered for investment properties.  I only needed $50,000 and I was offered an equity loan at 9% interest over 15 years!  The property is empty but I have a tenant moving-in on April 15th for $1200/month. 

My credit is not a factor as the score is above 740.  I was wondering if there are any national banks that will offer a cash-out option for investment property, without giving-out my information to every loan broker with an email address?