Purchased property with cash looking to mortgage it

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My wife and I purchased our second multi family using private funds this past December (been in property for 8 months). We renovated and are looking to mortgage property to pay private funds pack. We are owner occupying property. The issue we are having is most loans we are being offered are 75-80% LTV. Does anyone know of recommendations for 90% LTV in this scenario?

other MFR has 50% LTV and fully rented

Hey @Shawn M.! Congratulations on the moves your making in real estate investing!

When you say MFR, are you referring to a 2-4 unit multifamily? If not, then being an owner occupant is going to be largely irrelevant (or a negative). If so, then you're going to be subject to most bank's cash-out refinancing protocols. The most common numbers I see on cash-out refi's are 75% LTV, but when looking at getting a HELOC against the property I can go up to 85, 90, or even 97% value (depending on the bank). So, if a 75% LTV mortgage doesn't check the boxes for you, would a HELOC? Combining some concepts from velocity banking with investing could lead to a pretty sweet scenario!

And as always, I am not a lender, tax professional, attorney, or anything else worth much (teehee).

Food for thought.  Food is good.  Thinking is, too.


HELOC is a line of credit that you pull from whenever you need it and the interest is straight interest (as opposed to amortized interest). Google "velocity banking" and watch one of the shorter videos on it. It could be a cool strategy to try.