Suburban/rural SFR rented to 2-families - refinance

[Saman Pari]

I have an SFR I'm trying to cash out refi. However being rural I'm running into challenges with lenders. The house itself is split also to support 2 families and gives great cash flow. What type of lenders would work with this? Thanks In advance for help

[Stephanie P.]

Quote from @Saman Pari:

I have an SFR I'm trying to cash out refi. However being rural I'm running into challenges with lenders. The house itself is split also to support 2 families and gives great cash flow. What type of lenders would work with this? Thanks In advance for help

 Saman

If the house is set up to support two families, you may have changed the footprint of the house to create internal obsolescence. If it's not a legal 2 unit meaning the zoning doesn't allow for two units, but you've changed the property to support two families, no lender will do the loan.  Add rural to the equation and you're going to have a tough time on this one.

Stephanie