cash out refinance on investment property

susan100 · Joined: 19 Jun 2008 Posts: 2 1.77 Dollars($)

Full doc credit score 700
65% LTV
Own 11 investment properties total

jameshogg

Hi Susan,

Welcome to forums.

Your credit score looks good enough to help you qualify for the full doc loan. Moreover, you aren't asking for more than 65% LTV. But do you want to take out a cashout refinance on one particular property or is it about 11 such properties?

larry · Joined: 27 Jun 2007 Posts: 3328 474.31 Dollars($)

Hi Susan,

Welcome to forum,

I have to agree with James that your credit score is very good to get approve with better rates and terms. Have shopped for lender? If not then you should go for it.

You can even request for
no-obligation free mortgage quote form the community lenders with minimum details like your name, address, loan amount, zip code, phone no etc.

Hope someone will help you out.

Best of luck,
Larry

susan100 · Joined: 19 Jun 2008 Posts: 2 1.77 Dollars($)

I would like cash out on two of the eleven I own. I purchased free and clear the two and did some re-hab and now I want to recoup the rehab cost however the only lender I found is offering an option ARM and I don't want that.

Thanks for the suggestions.

charlesarmbruster · Posted: Fri Jun 20, 2008 11:51 am Post subject:

I'd be happy to discuss options to option arms with the scenario you've described -- what State are you in, please?

You can private message or email me. Thanks!

chrisburns · Posted: Mon Jul 07, 2008 6:36 am Post subject:

I assume you do not have 12 months title seasoning on your rehab properties your looking to cash out on?

Guest 0.10 Dollars($)

Fannie and Freddie guidelines allow for a max of 10 financed properties. how many of the 11 you own?

evolovik26 · Posted: Fri Jul 11, 2008 9:41 am Post subject:

If you only going to 70% LTV, full doc there should be no problem. Contact a reputable local broker and you will get this done.

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