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User Stats

121
Posts
33
Votes
Jeremy Torres
  • Rental Property Investor
  • TX (texas)
33
Votes |
121
Posts

Cash out refi

Jeremy Torres
  • Rental Property Investor
  • TX (texas)
Posted

Looking for a Texas lender that can answer some questions or give opinions on doing a cash out refi on a rental property to help pay off personal debts. 

User Stats

6,388
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1,726
Votes
Erik Estrada
#2 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
1,726
Votes |
6,388
Posts
Erik Estrada
#2 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
Replied

Hey Jeremy, 

What questions did you have?

business profile image
LuxePrivate Investments LLC
5.0 stars
69 Reviews

User Stats

2,004
Posts
665
Votes
Devin Peterson
  • Lender
  • Sarasota, FL
665
Votes |
2,004
Posts
Devin Peterson
  • Lender
  • Sarasota, FL
Replied
Quote from @Jeremy Torres:

Looking for a Texas lender that can answer some questions or give opinions on doing a cash out refi on a rental property to help pay off personal debts. 


 Hey jeremy, sometimes the best options may not be local I recommend asking some qualified investment focused brokers 

business profile image
ProAlpha Capital
5.0 stars
6 Reviews
RentRedi logo
RentRedi
|
Sponsored
2 Rentals Today. 20 Tomorrow. Same $12/month Price. Collect rent, screen tenants, manage maintenance, track finances, measure performance.

User Stats

121
Posts
33
Votes
Jeremy Torres
  • Rental Property Investor
  • TX (texas)
33
Votes |
121
Posts
Jeremy Torres
  • Rental Property Investor
  • TX (texas)
Replied
Quote from @Erik Estrada:

Hey Jeremy, 

What questions did you have?

I’m just trying to I guess get an appraisal on my rental and see if I can cash out refi my house to pay off some personal debts.   And how much in closing costs would I have to pay out of pocket. 

User Stats

121
Posts
33
Votes
Jeremy Torres
  • Rental Property Investor
  • TX (texas)
33
Votes |
121
Posts
Jeremy Torres
  • Rental Property Investor
  • TX (texas)
Replied
Quote from @Devin Peterson:
Quote from @Jeremy Torres:

Looking for a Texas lender that can answer some questions or give opinions on doing a cash out refi on a rental property to help pay off personal debts. 

I’m just trying to I guess get an appraisal on my rental and see if I can cash out refi my house to pay off some personal debts. And how much in closing costs would I have to pay out of pocket.


 Hey jeremy, sometimes the best options may not be local I recommend asking some qualified investment focused brokers 


User Stats

6,388
Posts
1,726
Votes
Erik Estrada
#2 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
1,726
Votes |
6,388
Posts
Erik Estrada
#2 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
Replied
Quote from @Jeremy Torres:
Quote from @Erik Estrada:

Hey Jeremy, 

What questions did you have?

I’m just trying to I guess get an appraisal on my rental and see if I can cash out refi my house to pay off some personal debts.   And how much in closing costs would I have to pay out of pocket. 

 Would depend on the loan amount size. What is the property value? And how much do you owe? 

business profile image
LuxePrivate Investments LLC
5.0 stars
69 Reviews

User Stats

967
Posts
445
Votes
Ko Kashiwagi
  • Lender
  • Los Angeles, CA
445
Votes |
967
Posts
Ko Kashiwagi
  • Lender
  • Los Angeles, CA
Replied

Hi Jeremy,

What interest rate are you currently paying on your personal debts? If it's much higher it would make sense to get a cash out refinance.

  • Ko Kashiwagi
  • 310-848-9776
  • User Stats

    1,015
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    486
    Votes
    Brittany Minocchi
    • Lender
    • Massillon, OH
    486
    Votes |
    1,015
    Posts
    Brittany Minocchi
    • Lender
    • Massillon, OH
    Replied

    Hey Jeremy! 

    I'm not physically in Texas, but I'm happy to answer any questions you have. The first steps would be to try and estimate the property's current value vs. what your payoff, determine what LTV you qualify for and see how much equity you have to work with. As for closing costs, you shouldn't have to pay anything out of pocket, the costs would be deducted from the cash you pull from the property. Feel free to connect.

    business profile image
    Brittany Minocchi - Barrett Financial Group, LLC
    5.0 stars
    22 Reviews

    User Stats

    121
    Posts
    33
    Votes
    Jeremy Torres
    • Rental Property Investor
    • TX (texas)
    33
    Votes |
    121
    Posts
    Jeremy Torres
    • Rental Property Investor
    • TX (texas)
    Replied
    Quote from @Brittany Minocchi:

    Hey Jeremy! 

    I'm not physically in Texas, but I'm happy to answer any questions you have. The first steps would be to try and estimate the property's current value vs. what your payoff, determine what LTV you qualify for and see how much equity you have to work with. As for closing costs, you shouldn't have to pay anything out of pocket, the costs would be deducted from the cash you pull from the property. Feel free to connect.


     thanks so much I’ll inbox 

    User Stats

    121
    Posts
    33
    Votes
    Jeremy Torres
    • Rental Property Investor
    • TX (texas)
    33
    Votes |
    121
    Posts
    Jeremy Torres
    • Rental Property Investor
    • TX (texas)
    Replied
    Quote from @Jeremy Torres:

    Looking for a Texas lender that can answer some questions or give opinions on doing a cash out refi on a rental property to help pay off personal debts. 

    @Brittany Minocchi   I want to refinance a rental.  

    User Stats

    121
    Posts
    14
    Votes
    David Pearl
    • Lender
    14
    Votes |
    121
    Posts
    David Pearl
    • Lender
    Replied
    Quote from @Jeremy Torres:

    Looking for a Texas lender that can answer some questions or give opinions on doing a cash out refi on a rental property to help pay off personal debts. 

    @Jeremy Torres - Hi Jeremy. We specialize in
    30 year rental loans for investment properties that you can use for a cash out refi. No income verification. No tax returns. No DTI. Happy to discuss.

    User Stats

    121
    Posts
    33
    Votes
    Jeremy Torres
    • Rental Property Investor
    • TX (texas)
    33
    Votes |
    121
    Posts
    Jeremy Torres
    • Rental Property Investor
    • TX (texas)
    Replied

    Great!  I’ll inbox you