60% LTV seems low for refi on investment property
I’m currently seeking to cash out refi a triplex I bought with cash. It’s owned by my LLC. I’ve been offered a 60% LTV based on purchase price and rehab costs not an appraisal. Terms at 30 yrs at 8-9% amortized. 60% seems a bit low but it will definitely help to purchase another deal. What are other getting in terms of commercial refinancing?
