How to Refinance from Personal to Investment Property

Question

Good Evening Real Estate Family,

I have a personal home that I am renting for the last 15 months in Virginia. I relocated from Virginia to New Jersey for work,... to cut a long story short, when Covid hit the company I worked for closed my branch and I lost my job in the process. My question would be, is there any lenders out there I can work with to refinance my home (turned to investment) without having a W2 job?

Thank You for your anticipated assistance,

Orlando

Orlando Ortiz · Answer

Thank You, Stephanie. I appreciate the information you have giving me.

Stephanie P. · Answer

@Orlando Ortiz

As long as you have another place to live, you should be okay getting a portfolio loan with this arrangement.

Stephanie

Orlando Ortiz · Answer

Timothy, I should have read the message I sent out thoroughly before clicking send. I have been renting out my personal home for 15 months now.

Thank You,

Orlando

Khalid Bryan · Answer

My hard money lender told me he can use equity from 1 property to help you fund another property. Want his number?

Eric Johnson · Answer

If the property is rented out and producing income, then sure.

Timothy Hero · Answer

A personal home that you're renting? I'm confused. Do you live on the property?

How to Refinance from Personal to Investment Property

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