All Forum Posts by: Tracie B.

Thanks Charlie - we are hoping to go conventional if possible because the pricing is so much better...commercial and hard money lenders could be an option, but not sure if we're ready to pay the higher rates.  Our properties cash flow really well  - we're just hoping to free up some of the equity in a couple of them for future Real Estate investment.  We have a small local bank that will do conventional on a purchase but can't seem to locate anyone to do a cash-out refi at conventional rates....

Thanks Darren - think the purchase options for rentals are similar here in WA - we have a mix of loans through Wells Fargo, smaller banks and a couple with local banks that have their own guidelines because they hold their own paper (for more than 10 financed properties)....But we're running into misinformation about doing a cash-out refi on any of these rentals...The lenders that follow the Fannie Mae, Freddie Mac rules are definitely giving us inconsistent info....

Wondering if anyone has experience with doing cash-out refi's on their rentals?  I have received so much inconsistent information about our options as far as doing a cash-out refi that I don't know which information is accurate...Can you do a cash-out refi if you own 10 financed properties and what about if you own more than 10 financed properties? Some Loan officers say none at all, some say only if you only 4 or less, some say 10 or less.  Very few say you can do 1 if you own more than 10 unless its a portfolio loan or a specialized lender where the rates will likely be substantially higher....Does anyone have straight (and accurate) answers on this??  Thanks so much!