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Buying & Selling Real Estate
HomeForumsBuying & Selling Real EstateBank wont let me BRRRR. HELOC ONLY. HELP!
Maugno M.'s profile image
Maugno M.'s profile image
Maugno M.
Pro Member
  • Flipper / Landlord
  • from Tyler, Texas
  • Member since May 17, 2016
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Maugno M.'s profile image
Maugno M.'s profile image
Maugno M.
Pro Member
  • Flipper / Landlord
  • from Tyler, Texas
  • Member since May 17, 2016
Connect
Maugno M.
Pro Member
  • Flipper / Landlord
  • Tyler, TX
126
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255
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Buying & Selling Real Estate

Bank wont let me BRRRR. HELOC ONLY. HELP!

Maugno M.
Pro Member
  • Flipper / Landlord
  • Tyler, TX
Posted Aug 22 2018, 09:43

I have a home i bought and nearly finished rehab. Started doing my paperwork to do a cash out refinance and back says i have to treat this as a HOME EQUITY loan. It still is a 80%ltv but max is 20year. They said i needed to have additional Homesteads for it to be a Cash Out refinance. 

What do you all think? I'm shopping around to see where they can do a 90%LTV but have had no luck. Not even at the credit unions. Any Advice ?

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