How Do I Look For Best Cash-Out Offer Without Hurting My Credit?

2 Replies

I have three investment properties with a mortgage. They are all in my name. I have two other properties without a mortgage. I've reached out to two commercial banks seeking a cash-out refi on one of the properties without a mortgage. Every time they pull my credit, my score drops a few points. How do you seek the best cash-out offer without hurting my credit?

The only way I know of to bypass this is to use a commercial mortgage broker that will have you access your tri-merged credit report and score (good for 30 days) and use it to shop your loan to multiple banks and private lenders without dinging your credit report each time.

Originally posted by @Lola Omishore :

The only way I know of to bypass this is to use a commercial mortgage broker that will have you access your tri-merged credit report and score (good for 30 days) and use it to shop your loan to multiple banks and private lenders without dinging your credit report each time.

Hi Lola, thanks for the advise! I also see that you're in Brooklyn.  So am I. Nice to (virtually) meet you :-).