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Private Lending & Conventional Mortgage Advice

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Sven Sante
  • Pleasanton, CA
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cash out refi on a 2-unit investment property

Sven Sante
  • Pleasanton, CA
Posted Mar 16 2018, 20:13

I am looking for options to cash out some equity from our 2 unit rental in the east bay. I talked to some banks and not getting very far because it is cash-out and multi-family. And when possible, am getting a huge interest rate like 5-6%, is that expected?

Also, how would the appraised value be calculated, is there a simple formula using the annual rental income?

Any pointers are appreciated thanks!

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