Refinance an investment property

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Post Posted: Wed Nov 06, 2013 3:20 am    Post subject: Refinance an investment property

It is possible to refinance an investment property at 85% or more? Actually I want to roll in my closing costs in the loan.
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Icon Mini Profile sara

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Post Posted: Wed Nov 06, 2013 3:57 am    Post subject:

Hi Berry,

Well, it will be completely the discretion of the lender whether or not he will provide you with 85% or more loan on an investment property.

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Icon Mini Profile adonis

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Post Posted: Wed Nov 06, 2013 9:31 pm    Post subject:

Hi Berry,

No closing cost loans may be available, but there are chances that you will be liable for paying higher interest rate.

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Icon Mini Profile jveenstra
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Post Posted: Thu Nov 07, 2013 7:59 am    Post subject: Invetment Property Refi9nance

I do not believe that is possible for a regular refinance.
Maximum financing for FNMA and FHLMC is 75% of value.

The only chance you have is if your existing loan is owned by Fannie Mae or Freddie Mac. If it is, you can refinance at any LTV under the HARP Program (Home Affordable Refinance Program)

John Veenstra, Mortgage Banker
Approved Funding Corp.
41 Grand Avenue
River Edge, NJ 07661
W: 201-833-0123
NMLS ID 178140
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