Cash Out Re-fi Strategy

[Riggies B tang]

Hi. I was told that in order to do a cash out Refi, the property has to be occupied, is that true? If that's not true, can someone recommend a lender who can do this in Syracuse, NY.  Thanks a bunch.

[Alexander Felice]

Originally posted by @Wayne Warren:

What's been driving me crazy, as a Newbie, is finding out after I've bought the house who to go see to get a "HUD loan." I've listened to the Alex Felice podcast but he just says 'go get a HUD loan.' Where do you go to do that?

I've never said to go get a HUD loan, I don't even have any HUD loans. I tell people to get a regular Fannie Mae conventional loan after refi since they will (if following my strategy) have 25% equity.

I believe you've heard me speak about the settlement statement which is also called the HUD-1, but that's very different than getting a loan from the office of Housing and Urban Development.