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Updated over 10 years ago on . Most recent reply

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KYLE Z.
  • Investor
  • Ironwood, MI
15
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68
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Refinancing rental property's

KYLE Z.
  • Investor
  • Ironwood, MI
Posted

Hi all, So I am trying to Refi my rental property's and my personal home. The bank im working with wants to do a commercial loan for everything at 6.5%. I would rather break them up with a loan for each. They say they will not give me a residential loan on any of the rentals. I thought I heard on here people were refinancing rentals with 30 year fixed rates. I am also looking to get some cash out for a siding and window project on a duplex. The bank says that they will roll that into the loan. What do you guys and girls think?

Thanks in advance

Most Popular Reply

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13,453
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
8,353
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13,453
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

There goes the reason why. You won't meet the lender's LTV without doing the blanket loan.

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