No seasoning Cash Out refinance In orlando Fl

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No seasoning Cash Out refinance In orlando Fl

Matt Arden
Orlando, FL · Member since 2019 · 43 posts · 4 votes

Does anyone know A bank in Orlando Fl That doesn't have a seasoning period for a cash out refinance? I purchased a rental with half cash half hard money. Even if I can get just the purchase price refinance that is alright any information will help thanks.

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  • Raymond J. RodriguesBusiness Member
    Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
    6y

    @Matt Arden will you be holding the property in an LLC?

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  • Matt Arden
    OP
    Orlando, FL · Member since 2019 · 43 posts · 4 votes
    6y

    Yes I will be holding in an LLC

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  • Jason Hirko
    Lender · San Antonio, TX · Member since 2016 · 1k+ posts · 1k+ votes
    6y

    @Matt Arden What rate are you looking for? There are plenty of portfolio lenders that have 30 year loans in the 6s based off DSCR (as opposed to personal income). More than a bank, but it is much more simple of a transaction.

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  • Matt Arden
    OP
    Orlando, FL · Member since 2019 · 43 posts · 4 votes
    6y

    @Jason Hirko any where from 4-6% would work. I called a few portfolio lenders they said they bundle some of them and sell them ofF so they use Fannie and Freddie guidelines. Am I asking the wrong question or should I just keep calling different banks. Do you know of any in the Orlando area 

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