Looking for cash out refinance on a rental property

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Looking for cash out refinance on a rental property

Steven Ewing
New to Real Estate · Memphis, TN · Member since 2024 · 4 posts · 5 votes

This might rule out many of lenders but I’m specifically looking for a lender that does cash out refinance on manufactured home that is on a permanent foundation. Comps looks to be around 210K+ in my area for similar homes. I am ultimately trying to restructure a cash out refinance to consolidate a business loan. It would essentially lower my payment by about $1600 a month. Please let me know if you are a lender that does this type of thing. It is owned free and clear 

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Erik EstradaBusiness Member
Lender · Los Angeles, CA · Member since 2022 · 7k+ posts · 1k+ votes
1y
Quote from @Steven Ewing:

This might rule out many of lenders but I’m specifically looking for a lender that does cash out refinance on manufactured home that is on a permanent foundation. Comps looks to be around 210K+ in my area for similar homes. I am ultimately trying to restructure a cash out refinance to consolidate a business loan. It would essentially lower my payment by about $1600 a month. Please let me know if you are a lender that does this type of thing. It is owned free and clear 


Yes you can do a DSCR loan on a manufactured home on permanent foundation. The home needs to be built after 1975 and most lenders are capped at 60% LTV on a cash out refinance with a minimum loan amount of $100k.

I will add that there are higher pricing adjustments if the property is located in a rural area

[email protected]818-269-7983
LuxePrivate Investments LLC 571 Reviews
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  • Erik EstradaBusiness Member
    Lender · Los Angeles, CA · Member since 2022 · 7k+ posts · 1k+ votes
    1y
    Quote from @Steven Ewing:

    This might rule out many of lenders but I’m specifically looking for a lender that does cash out refinance on manufactured home that is on a permanent foundation. Comps looks to be around 210K+ in my area for similar homes. I am ultimately trying to restructure a cash out refinance to consolidate a business loan. It would essentially lower my payment by about $1600 a month. Please let me know if you are a lender that does this type of thing. It is owned free and clear 


    Yes you can do a DSCR loan on a manufactured home on permanent foundation. The home needs to be built after 1975 and most lenders are capped at 60% LTV on a cash out refinance with a minimum loan amount of $100k.

    I will add that there are higher pricing adjustments if the property is located in a rural area

    [email protected]818-269-7983
    LuxePrivate Investments LLC 571 Reviews
    WebsiteView Page
    1Reply
  • Devin PetersonBusiness Member
    Lender · Sarasota, FL · Member since 2022 · 2k+ posts · 695 votes
    1y
    Quote from @Steven Ewing:

    This might rule out many of lenders but I’m specifically looking for a lender that does cash out refinance on manufactured home that is on a permanent foundation. Comps looks to be around 210K+ in my area for similar homes. I am ultimately trying to restructure a cash out refinance to consolidate a business loan. It would essentially lower my payment by about $1600 a month. Please let me know if you are a lender that does this type of thing. It is owned free and clear 

    Definitely possible!
    [email protected]860-538-3672
    ProAlpha Capital55 Reviews
    WebsiteView Page
    0Reply
  • Derek BrickleyBusiness Member
    Lender · Ann Arbor, MI · Member since 2021 · 702 posts · 239 votes
    1y

    Hey Steven!

    As mentioned you're pretty much going to be capped at 60% of the value, but if it's helpful to look at some of those options feel free to reach out.  Definitely more limited on those

    [email protected]734-645-7722
    Gold Star Mortgage Financial Group548 Reviews
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  • Matthew CrivelliBusiness Member
    Lender · MA · Member since 2021 · 1k+ posts · 1k+ votes
    1y

    Manufactured home on a fixed foundation, you can get higher than 60% LTV on a cash out. I would be happy to to take a look.

    [email protected]413-348-8346
    Freedom Capital Funding, LLC523 Reviews
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    0Reply
  • Alexander Medina
    Lender · Las Vegas, NV · Member since 2013 · 28 posts · 7 votes
    1y

    Hi Steven,

    Yes, cash-out refinancing for manufactured homes on permanent foundations is possible in Tennessee, including Memphis. Several lenders offer such programs, provided the home meets specific criteria.

    0Reply
  • Tanner Goktepe
    Member since 2025 · 6 posts · 2 votes
    1y

    This sounds like a loan that I may be able to help you with but i need more details would you be interested in having a conversation at a convenient time? Tanner Goktepe NMLS#2171656 (813)-568-2291 www.mortgageskyhill.com

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