Investor · Nashua, NH · Member since 2016 · 37 posts · 18 votes
Hey folks,
I have seven mortgaged properties, I'd like to do a cash-out refi on one of my homes in Tucson. I owe $57k on it and it should appraise between $140-145k. Can anyone recommend a bank that would consider a deal like that at 75-80% LTV? I live in NH.
Lender · Los Angeles, CA · Member since 2016 · 98 posts · 17 votes
9y
I know a bank that will do it at 75% if you have a 700+ fico. Otherwise max is 70%. Has to be tenant-occupied and you need to live in a primary residence. Can't be a renter. Email me directly if you'd like the info.
As of a few months ago, you can own up to 10 financed properties and still do cash out refinances using plain vanilla 30 year fixed Fannie loans, rates in the 4s.
Before that, Fannie capped you at 4 and Freddie capped you at 6.