Updated over 5 years ago on . Most recent reply
No more cash-out refis for investment properties?
My mortgage broker told me it's nearly impossible to find a traditional lender that will do cash-out refis for investment properties right now. With COVID-19, banks have too much uncertainty around future home values and are worried about home values declining. So many of them have stopped writing cash-out refi deals on investment properties.
Does anyone have any insight on this?! Tried to do a cash-out refi and denied? Approved? Etc?
Most Popular Reply
Two options here.
1. Find a portfolio lender. Usually a small credit union
2. Wait until after the election to Refi.