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Updated about 2 years ago on . Most recent reply
North Carolina Cash out refi on rental home
Hi. I have a rental property in Carolina that is valued at approximately $275k. I want to leverage it to purchase another rental. Its completely paid off. I want to Cash out refinance it as a preferred option or set up a HELOC on it. I'm having trouble finding lenders. Anybody got any advice on someone in NC that will do a cash out refi on a rental right now?
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Jack Tulloch
#2 Mortgage Brokers & Lenders Contributor
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#2 Mortgage Brokers & Lenders Contributor
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- Austin, TX
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Jack Tulloch
#2 Mortgage Brokers & Lenders Contributor
Pro Member
#2 Mortgage Brokers & Lenders Contributor
- Lender
- Austin, TX
Hey Matthew - there are plenty of lenders licensed in NC that can likely help. I would recommend calling some local banks/credit unions, checking out bigger pockets suggested lenders, etc.
Are you looking for conventional financing or a DSCR loan?