LTV on Refi Loan for a Rental Property

[Jason Barton]

Hello,

I have a rental property that I have owned for over ten years. I was looking to refi and pull some money out, but the mortgage brokers I have met with keep telling me that for a rental property they have to different LTV; as opposed to the normal 80% they are telling me they need 60%. This makes it difficult to get a significant amount of equity out. I assume there must be lenders out there that do something closer to 80%. If one follows the BRRRR method, you're not doing a 60% LTV are you?

Thank you

jason