Oakland, CA · Member since 2017 · 8 posts · 2 votes
I have a Rental property in Oregon. I'm trying to do another deal and wanted to grab some equity out. Looking for bank or Loan officer in Oregon that can do better than 60% cltv. I don't want to do a cash out refinance as it would up the rate considerably(at least that's what I was told) if you think you can stay around 3% for a rental cash out, let me know. Otherwise I will stick to a HELOC. Feel free to message me if you think you can help.
I am in a similar position as I live in Montana and have a rental property in Oregon, and need to pull out some equity. Any luck finding anyone who would offer more than 60% ctlv on a HELOC? Would you be willing to share who you ended up using? Thanks!
I am in a similar position as I live in Montana and have a rental property in Oregon, and need to pull out some equity. Any luck finding anyone who would offer more than 60% ctlv on a HELOC? Would you be willing to share who you ended up using? Thanks!
Lender · OR ID AZ CA WA CO NV TN MT · Member since 2018 · 598 posts · 312 votes
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@Katie McCall I ended up helping Steven with accessing equity in his Oregon property a couple months ago. Most banks or CUs will only go to 65 or 70% CLTV for a HELOC. We have an investment loan at Academy Mortgage that allows us to do cash out refinances up to 85% LTV when conventional caps you at 75% LTV for a 1 unit and 70% LTV for a 2-4 unit. This is the solution we were able to assist Steven with. I would be glad to talk through your situation to see if this could be a good fit for your Oregon rental property?