80% (or better) LTV cash out refinance for investment property

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80% (or better) LTV cash out refinance for investment property

Dustin SandersBusiness Member
Realtor · Pensacola, FL · Member since 2019 · 89 posts · 30 votes

Hey BP,

I am looking to do a cash out refinance with my investment properties to go buy some more investment properties.

The best I've heard so far from my current lenders are 75% LTV cash out refinance for my investment properties. I've heard of higher than 75% LTV though that's only for primary residences.

Are there any lenders who you know that are able to do 80% LTV (or better) cash out refinance for investment properties?

Thanks,

Dustin

[email protected]850-529-3683
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Wesley B WilliamsPro Member
Rental Property Investor · Louisville, KY · Member since 2017 · 107 posts · 77 votes
4y

@Dustin Sanders have you talked to a lot of local banks and credit unions. In louisville it’s pretty common for them to give you 80% Ltv. I called 20+ banks and made a spreadsheet.

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  • Benjamin Seibert
    Investor · Frederick, MD · Member since 2016 · 352 posts · 194 votes
    4y

    @Dustin Sanders yea there are definitely a couple different companies that do this. @Alex Bekeza may be able to help?

    1Reply
  • Dustin SandersBusiness Member
    OP
    Realtor · Pensacola, FL · Member since 2019 · 89 posts · 30 votes
    4y

    @Benjamin Seibert @alex.bekeza

    Are they able to lend on properties in Florida for the 80% LTV cash out refinance?

    [email protected]850-529-3683
    0Reply
  • Wesley B WilliamsPro Member
    Rental Property Investor · Louisville, KY · Member since 2017 · 107 posts · 77 votes
    4y

    @Dustin Sanders have you talked to a lot of local banks and credit unions. In louisville it’s pretty common for them to give you 80% Ltv. I called 20+ banks and made a spreadsheet.

    1Reply
  • Howard Scarrott
    Investor · Jacksonville, FL · Member since 2013 · 15 posts · 10 votes
    4y
    Quote from @Dustin Sanders:

    @Benjamin Seibert @alex.bekeza

    Are they able to lend on properties in Florida for the 80% LTV cash out refinance?


     Dustin, did you ever find a Florida lender to do 80% cash-out? I'm in Florida and looking for that now too.

    0Reply
  • Matthew CrivelliBusiness Member
    Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes
    4y

    DSCR Loans at 80% LTV are available for cash-outs. You will have to bring a really high credit score and the property must be able to cash flow at 80%. It can be tricky with the interest rates creeping up. I would be happy to take a look at your scenario to see if it will work! @Howard Scarrott  

    [email protected]413-348-8346
    Freedom Capital Funding, LLC523 Reviews
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    0Reply
  • Brandon Plombon
    Banker · Minneapolis, MN · Member since 2017 · 257 posts · 143 votes
    4y
    Quote from @Dustin Sanders:

    Hey BP,

    I am looking to do a cash out refinance with my investment properties to go buy some more investment properties.

    The best I've heard so far from my current lenders are 75% LTV cash out refinance for my investment properties. I've heard of higher than 75% LTV though that's only for primary residences.

    Are there any lenders who you know that are able to do 80% LTV (or better) cash out refinance for investment properties?

    Thanks,

    Dustin


    Where is the property located? We can do 80% LTV in Minnesota, North Dakota, South Dakota, Iowa, and Wisconsin.

    0Reply
  • Howard Scarrott
    Investor · Jacksonville, FL · Member since 2013 · 15 posts · 10 votes
    4y

    To be clear guys (@Matthew Crivelli), this is being done through our LLC, not a loan in my personal name.

    @Brandon Plombon, property is in Jacksonville, FL

    1Reply
  • Raymond J. RodriguesBusiness Member
    Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
    4y

    @Dustin Sanders@Howard Scarrott, what type of properties are you all looking to cash out on 80% LTV and what would the average loan amounts be? 

    [email protected]619-456-8311
    Helm Mortgage Corp.5126 Reviews
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    0Reply
  • Howard Scarrott
    Investor · Jacksonville, FL · Member since 2013 · 15 posts · 10 votes
    4y
    Quote from @Raymond J. Rodrigues:

    @Dustin Sanders@Howard Scarrott, what type of properties are you all looking to cash out on 80% LTV and what would the average loan amounts be? 


    Mine is a SFH, ARV of around $160k so would be $128k loan if we can get 80%

    0Reply
  • Raymond J. RodriguesBusiness Member
    Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
    4y

    @Howard Scarrott, when did you purchase the property? 

    [email protected]619-456-8311
    Helm Mortgage Corp.5126 Reviews
    WebsiteView Page
    0Reply
  • Issac San Miguel
    Lender · Austin Texas · Member since 2022 · 319 posts · 156 votes
    4y

    Hey Howard!

    Different loan programs have different variables; lot's to unpack.

    I personally wouldn't get into a dscr right now due to prepayment penalties - I do not think these higher rates are going to last for the next 5 years.

    Let me know if you want to chat through DM.


    Thanks,

    Issac

    0Reply
  • Howard Scarrott
    Investor · Jacksonville, FL · Member since 2013 · 15 posts · 10 votes
    4y
    Quote from @Raymond J. Rodrigues:

    @Howard Scarrott, when did you purchase the property? 


     4 months ago

    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    1w

    Hey Dustin,

    Yes, now you can go up to 80% LTV on a cash out for DSCR loans.

    [email protected]818-269-7983
    LuxePrivate Investments LLC 570 Reviews
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    0Reply
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