Investor · Houston, TX · Member since 2014 · 81 posts · 25 votes
My understanding of Fannie Mae 2014 guidelines is that it will not allow cash out refi for investment properties 5 to 10 but will allow limited cash out refinance. You need 30% equity, 6 months reserve for each property and credit score>720.
Investor · Tacoma, WA · Member since 2014 · 83 posts · 40 votes
12y
I just did a Fannie Mae refi on a 5th property on April 28th and didn't want cash out. The APR was 5.298% (includes closing costs so it appears high). I don't see the LTV mentioned on the closing documents anywhere but I'm sure it met that limitation. There was also no appraisal required.