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refinace rental property

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williehood Guest	Posted: Thu Dec 17, 2009 1:38 pm    Post subject: refinace rental property Like 0 Dislike 0 We had are home forsale for a year in Wisconsin no one could get qualifed for the loan so just rented out for six months can we refinace the property now or what till people move out _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
tfaulhaber1 Community Expert Joined: 17 Dec 2009 Posts: 562 75.68 Dollars($)	Posted: Thu Dec 17, 2009 1:53 pm    Post subject: RENTAL PROPERTY Like 0 Dislike 0 If the home has been off MLS for 6 months, you shouldn't have an issue refinancing it. You will need equity in the home. Most guidelines on investment properties only allow you up to 80-85% LTV on refinances. Usually average to above average credit is required as well. _________________ Theo (Ted) Faulhaber 516-403-9116 516-634-4417 tfaulhaber (at) vanguardfunding.net
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Thu Dec 17, 2009 2:20 pm    Post subject: Like 0 Dislike 0 you ought to be able to refinance, as ted mentioned. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

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