Updated over 4 years ago on . Most recent reply
do i need credit or work history to refinance a rental?
suppose i want to refinance a fully paid for rental property that is actively occupied by tenants.
what does the bank require when approving a refinance?
Most Popular Reply
Dannison,
You do not need tax returns or income if you use the rental income of the property. That would be a Debt Service loan where the rental income qualifies. The rental income would have to be 115% greater than the proposed PITI (principal, Interest, Taxes, insurance)There are a lot programs that help borrowers finance/refinance their primary/investment properties.