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 susan100
Joined: 19 Jun 2008
Posts: 2
1.77 Dollars($)
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 Posted: Thu Jun 19, 2008 12:32 pm Post subject: cash out refinance on investment property |
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Full doc credit score 700
65% LTV
Own 11 investment properties total |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Thu Jun 19, 2008 9:28 pm Post subject: RE: investment property cash out refinance |
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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? |
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larry
Joined: 27 Jun 2007
Posts: 3328
474.49 Dollars($)
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| Posted: Fri Jun 20, 2008 1:32 am Post subject: |
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Hi Susan,
Welcome to forum,
I have to agree with James that your credit score is very good to get approve with better rates and terms. Have shopped for lender? If not then you should go for it.
You can even request for
no-obligation free mortgage quote form the community lenders with minimum details like your name, address, loan amount, zip code, phone no etc.
Hope someone will help you out.
Best of luck,
Larry |
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susan100
Joined: 19 Jun 2008
Posts: 2
1.77 Dollars($)
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| Posted: Fri Jun 20, 2008 6:44 am Post subject: cash out refinance on investment property |
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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. |
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charlesarmbruster
Community Experts
Joined: 12 Oct 2006
Posts: 169
Location: Mesa, AZ
43.75 Dollars($)
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| Posted: Fri Jun 20, 2008 11:51 am Post subject: |
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I'd be happy to discuss options to option arms with the scenario you've described -- what State are you in, please?
You can private message or email me. Thanks!
_________________
Chuck Armbruster
Phoenix, AZ |
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chrisburns
Community Experts
Joined: 13 Nov 2007
Posts: 372
Location: Florida
64.35 Dollars($)
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| Posted: Mon Jul 07, 2008 6:36 am Post subject: |
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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 |
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Ulch
Guest
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| Posted: Thu Jul 10, 2008 8:51 pm Post subject: |
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| Fannie and Freddie guidelines allow for a max of 10 financed properties. how many of the 11 you own? |
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evolovik26
Community Experts
Joined: 15 Aug 2007
Posts: 538
Location: Minneapolis
28.93 Dollars($)
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