Updated over 4 years ago on . Most recent reply
Cash out refinance on primary residence information
I currently have a FHA loan on my primary residence. I want to get the equity I have on the house to invest in a multi family. I need advice like can I qualify for another loan?
Most Popular Reply
Evan Polaski
#5 Multi-Family and Apartment Investing Contributor
Pro Member
#5 Multi-Family and Apartment Investing Contributor
- Cincinnati, OH
- 3,655
- Votes |
- 3,966
- Posts
Evan Polaski
#5 Multi-Family and Apartment Investing Contributor
Pro Member
#5 Multi-Family and Apartment Investing Contributor
- Cincinnati, OH
@Gustavo Zamora, typically you need MORE than 20% equity to cash out refi or pull a home equity line. Sometimes you can find a lender that will go up to 90% but they are fewer and further between. Finding out is very easy: start calling banks and asking what they require, and you will quickly learn if you will qualify or not.