Hello my name is Israel Alcaraz,
I have a property that is in Arizona fully paid off and now we want to get into the Real Estate game. We have been running into dead ends with most lenders that I've reached out to because this home is owned by Foreign Nationals most lenders would not even offer any products to refinance this property and the ones that have make it nearly impossible and the rates are thru the roof and my credit score is over 800. What I have in mind is to add my investing partner to the deed of the home, he is a U.S. Citizen so that he can apply for the cash out refi at a way better rate. Can anybody help me or guide me in the right direction ? is this the right step to take or what other options do i have to tap into the cash of this paid off home so we can put it to work ?
Than you for all the help.
Is this your personal residence or an income property? I could only help with non-owner occupied properties. I work with lenders who lend to foreign nationals. Often the LTV is lower but it can be done.
PM me for more info.
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