Investor · Dallas-Fort Worth · Member since 2020 · 10 posts · 1 vote
I have a SFR in DFW area that I'm rehabbing right now. Bought the property cash and planning on renting it as soon as the rehab is done. Plan is to do a cash out refinance up to 80% LTV, but I'm wondering who's doing those long term loans in DFW?
Lender · Newport Beach, CA · Member since 2021 · 63 posts · 43 votes
4y
Go conventional if you can for the best rate/terms. If you need to use a HML for one reason or another, Civic Financial is offering 5Y, 7Y, and 10Y ARM programs up to 80% LTV on a cash-out.
I have a SFR in DFW area that I'm rehabbing right now. Bought the property cash and planning on renting it as soon as the rehab is done. Plan is to do a cash out refinance up to 80% LTV, but I'm wondering who's doing those long term loans in DFW?
Conventional cash-out refi on a non-owner occupied will be capped at 75% LTV. Some private lenders (like Civic mentioned above) may have portfolio products up to 80% LTV, but those terms are far less favorable than conventional loans.