Bank recommendation for mortgage/refinance

[Jeff Miller]

Hello all,

We just closed on our first rental property in the Fort Lauderdale, FL area. We bought this all cash in an LLC, Once we get a tenant we are looking to take cash out of the house equity and buy a second property.

Any recommendations of a good local (or national bank) that can help us do that?

[Raymond J. Rodrigues]

Hi Jeff, how long will you and your partner have owned the property by the time you complete your cash out refinance? Feel free to reach out with any questions that you may have. 

[Malgorzata Sadowska]

@Raymond J. Rodrigues provides excellent service & best rates / terms.

[Kevin Post]

Hey Jeff,

I have done dozens of cash-out loans for investment properties in Florida. No tax returns or income verification required. 30yr and 40yr fixed rate loans. Give me a call anytime and I can answer any questions you have.

[Dave Skow]

@Jeff Miller- if you want to do the loan in the LLC name - you will find very few lenders that will be able to assist .....if this is the case - your first question should be : what lenders can close in a LLC name ...and then go from there ........if you are OK with getting the new loan in your own name - then most lenders should be able to assist ...fyi - if you do the loan within 6 months - you will need to provide papertrail for the lender to show where the funds for the purchase derived from .. if you borrowed / were gifted or used soemones elses funds to close on the purchase you might want to wait 6 mos + to do the cash out refi

[Dustin Rosenberg]

Hey Jeff, I work with a lot of investors out in Fl like yourself. Feel free to reach out anytime if you would like to hear some options. 

[Alex Hunt]

I have a partner at a FL bank, but could do this in house with a delayed purchase for max 80% cashout on that cash purchase. In the name of the LLC or in personal.