Investment property cash out refinance

Rental Property Investor · Member since 2019 · 124 posts · 38 votes

I have a rental I owed over 10 years. Try to do cash out refinance with Quicken loans. They told me I can’t since Fannie Mae change some rules.

Any other avenues I have to be able to get cash out?

Thank you in advance.

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David Kelly
Lender · Nationwide Lender · Member since 2019 · 391 posts · 140 votes
5y
PM sent. There are still lenders available for this! Just much harder to find.
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Brittany Jones
Member since 2021 · 1 post · 0 votes
5y
I'm trying to refinance one of my rentals as well. I tried Integrity Credit Corporation without much success. They denied me because of my student loans (even though I have 2 rental properties with the same student loans) and then offered me a real estate investment package but the interest rate was 5% (my current rate is 3.99). But maybe you'll have better luck with them.
I'm also going to try investorrehabfunding.com.
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Jon KellyPro Member
Investor · Bethlehem, PA · Member since 2016 · 929 posts · 951 votes
5y
@Oleksandr Ivanovskiy find and call all local banks/lenders within a 30 mile radius of the rental. Quicken is OK for homeowners, but rarely a good option for investors.
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