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Updated over 8 years ago on . Most recent reply

Rich Hupper's profile image
Rich Hupper's profile image
Rich Hupper
  • Broker / Investor
  • from Tewksbury, MA
  • Member since Aug 27, 2008
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Rich Hupper's profile image
Rich Hupper's profile image
Rich Hupper
  • Broker / Investor
  • from Tewksbury, MA
  • Member since Aug 27, 2008
Connect
Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
348
Votes |
1,264
Posts
Buying & Selling Real Estate

Bought a Home with Cash now I need a mortgage

Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
Posted

Hello

I bought a home with cash for 92,000.00 and at this point I am all in for 140k The property appraises for 175k. I want to get a mortgage on it so I can pull 140k cash out and install a renter. Is this possible to do? 

If so what terms and rates should I expect from lenders? Will there be a lot of closing and origination fees? What type of lenders are the best to approach for this transaction?

Thank you

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