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cash out refinance on investment property

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susan100 Joined: 19 Jun 2008 Posts: 2 1.77 Dollars($)	Posted: Thu Jun 19, 2008 12:32 pm    Post subject: cash out refinance on investment property Like 0 Dislike 0 Full doc credit score 700 65% LTV Own 11 investment properties total
jameshogg Joined: 20 Dec 2005 Posts: 10148 Location: Nevada 941.94 Dollars($)	Posted: Thu Jun 19, 2008 9:28 pm    Post subject: RE: investment property cash out refinance Like 0 Dislike 0 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: 3322 474.67 Dollars($)	Posted: Fri Jun 20, 2008 1:32 am    Post subject: Like 0 Dislike 0 Hi Susan, Welcome to forum, I have to agree with James that your credit score is very good to get approve with better rates and terms. Have shopped for lender? If not then you should go for it. You can even request for no-obligation free mortgage quote form the community lenders with minimum details like your name, address, loan amount, zip code, phone no etc. Hope someone will help you out. Best of luck, Larry
susan100 Joined: 19 Jun 2008 Posts: 2 1.77 Dollars($)	Posted: Fri Jun 20, 2008 6:44 am    Post subject: cash out refinance on investment property Like 0 Dislike 0 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 Community Expert Joined: 12 Oct 2006 Posts: 169 Location: Chandler, AZ 43.85 Dollars($)	Posted: Fri Jun 20, 2008 11:51 am    Post subject: Like 0 Dislike 0 I'd be happy to discuss options to option arms with the scenario you've described -- what State are you in, please? You can private message or email me. Thanks! _________________ Chuck Armbruster Phoenix, AZ payjunction chuck [on facebook]
chrisburns Community Expert Joined: 13 Nov 2007 Posts: 382 Location: Florida 65.98 Dollars($)	Posted: Mon Jul 07, 2008 6:36 am    Post subject: Like 0 Dislike 0 I assume you do not have 12 months title seasoning on your rehab properties your looking to cash out on? _________________ Chris Burns Five Stars Mortgage, LLC Office: 800-871-2636 ext. 200 Cell: 407-456-3697 Florida Mortgage Five Stars Mortgage On Facebook
Ulch Guest	Posted: Thu Jul 10, 2008 8:51 pm    Post subject: Like 0 Dislike 0 Fannie and Freddie guidelines allow for a max of 10 financed properties. how many of the 11 you own?
evolovik26 Community Expert Joined: 15 Aug 2007 Posts: 537 Location: Minneapolis 28.93 Dollars($)	Posted: Fri Jul 11, 2008 9:41 am    Post subject: Like 0 Dislike 0 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. _________________ Eugene Volovik Home Loan Consultant Countrywide 612-481-3127 Conventional, FHA and Commercial Lending in 48 states

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