Updated 3 months ago on . Most recent reply
Investment property rate refinance
Looking for competitive refinance quotes for an LLC-owned rental in El Paso, Texas. The loan has an approximate payoff balance of $126,000. The property was appraised in September 2023 at $165,000, and I estimate its current value at $185,000 (I'm willing to get an appraisal if we need a higher value, which it likely is).
This is a single-family rental in good standing and I am seeking the lowest available fixed-rate refinance. I am open to conventional options that will work for an LLC, DSCR programs, portfolio lenders, or any structure that produces a low fixed rate and reasonable closing timeline. The current tenant has been in since December 2024 and the rent is $1,100/month.
If you are a lender or broker who lends in Texas and can offer competitive terms for LLC-owned rentals, please reply with program details and typical rate ranges.