Landscape Architect · Oakland, CA · Member since 2015 · 12 posts · 5 votes
Shout out to SF Bay area folks. I'm looking to do a refi on my investment property in the SF. Any recommendations on lenders to talk to. Several banks have only offered 50% loan to value and I would like to do better.
Real Estate Agent · LONG BEACH, CA · Member since 2014 · 209 posts · 43 votes
10y
What term length are you looking for and what LTV do you have in mind? Will the cash out be used for the purchase of another investment property? @Steve Graham
Investor · Bay Shore, NY · Member since 2014 · 1k+ posts · 688 votes
10y
@Steve Graham - The timing of your question is right, as I just picked up a flyer from my mailbox for B2R Finance and I will quote it...
"Unlock equity and get cash out of your existing rental property. Refinance with an asset-based loan at up to 75% LTV using the full-appraised value of your rental properties with as few as 90 days of seasoning"
So, you may want to give them a call to see if this fits your requirement.
Good luck and best wishes with your REI activities.
Landscape Architect · Oakland, CA · Member since 2015 · 12 posts · 5 votes
10y
Sorry I was not 100% clear. Looking for a 30 year fixed. I'm at 4.25 now but based on what I have been quoted prob 4.75 is best I can do. Looking for a credit union or small local bank