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Refinancing for Landlords

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Icon Mini Profile ttallman61





Joined: 30 Oct 2010

Posts: 1

1.00 Dollars($)
Post Posted: Sat Oct 30, 2010 10:28 am    Post subject: Refinancing for Landlords
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Hello, I am a homeowner in NY. A 2 family, with equity, which I do not live in. I'm trying to refinance from an FHA 7.5 to current rate (4.5 ish). Credit Union denied because I don't live there. I owe 43k current value 80-85k, good credit. I'm looking to put it on the market in the next 6m-yr. depending on climate. looking for some advice. Thanks
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



Posts: 10562
Location: ALASKA
1089.18 Dollars($)
Post Posted: Sun Oct 31, 2010 9:31 pm    Post subject:
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Welcome ttallman,

You can speak to other lenders apart from your credit union and check out if they can help you in getting a mortgage for an investment property. As you do not live in the property, it will be considered as your investment property.

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