All Forum Posts by: Lori Lusk

@Michael Rogers - thank you for the response. To clarify, I am actually trying to cash out refi/HELOC on our investment property, not our primary residence.

@Upen Patel - thank you for that. Are there any other options you would suggest? I.e. creative, non-conventional financing? I can obviously look into private or hard money, but lending with the refi or HELOC is much less expensive.

Hello BP!

I am a new investor in the Puget Sound - more specifically, targeting Snohomish and Pierce Counties. I have been shopping local bank and credit unions for rates on a cash out refi and HELOC on a rental that my husband and I currently own.

I have probably contacted about 10 different lenders, big, small, recommended on BP, etc... and I really haven't found that they stray from Freddie Mac/Fannie Mae guidelines. The best that I have found for my situation (value = 290k, first mortgage = 167k) is 75% LTV on a cash-out refi, and 70% LTV on a HELOC. I'm looking for more access to cash, so a higher LTV %. Does anyone have any advice, or is this as good as it's going to get?

Thank you in advance for any thoughts/suggestions!

Hello BP'ers! I am hoping you may be able to help out my family in a time of need. My grandfather just passed away, and he and my grandmother (still alive) live in Ontario, CA, near Riverside, San Bernardino, etc. We are trying to help get their home ready to sell, and aren't planning to do a whole remodel, but probably just the "must do's." Anyway, hoping for any references people have for good and available contractors in the Inland Empire. I appreciate anything you have!! Thank you so much, in advance! Lori