Cash Out Refi Max LTV?

Question

Anyone have experience with a cash out refi exceeding 80% LTV? Do lenders do that?

Joyce Ann Magallanes · Answer

Hi Panos,I haven’t come across a cash-out option at 80%—that’s typically available only for rate and term refinances. To increase your cash-out, you could consider adding a second position through a gap lender or obtaining a business loan.

Brandon Croucier · Answer

There are investors who go up to 80% Cash Out.

But it nearly never makes sense, the rate is typically 1-2% higher and points are also an increased 1-2% higher.

Meaning to pull out 5% more, over 12 months you'll pay an additional 3% of the loan amount.

You would just be giving away money at that point.

75% will get you solid terms, its not a bad play to leave money in deals.

Mike Grudzien · Answer

When you push limits, be prepared for unplanned push-back from the deal or the market...

Erik Estrada · Answer

I have seen 85% LTV on a rate and term, but will be at a very high rate.

Cash out I have only seen 80% LTV max. Likely will decrease given such market volatility.

Devin Peterson · Answer

DSCR or investment? No way - red flag

Crystal Stroessner · Answer

Same thoughts as the others here, you can expect a 75-80% LTV before origination fees. As for rate, it depends (between 7.5 and 12 usually).

Stacy Raskin · Answer

Generally it's going to be 75% LTV for a cash out refinance or if you can find more it's going to be much higher on the rate.

Steven Lee · Answer

Panos,

What is your situation you need to go higher than 80% LTV on a cash out?

Deborah Wodell · Answer

Generally impossible nowadays. The other are right in saying 80% would be the most for a cash out refi. there are tons of lenders that has 75% as their max.

Denver McClure · Answer

Hey @Panos Coufos, we have several lenders than can exceed 80% LTV. Just know that they might come with slightly higher rates. Feel free to reach out.

Cash Out Refi Max LTV?

Most Popular Reply