Updated over 10 years ago on . Most recent reply
Cash Out Refi
Hey BPers!
I bought a 3 unit near Harrisburg, PA for cash last week for $20,000. I'd like to do a cash out refinance to use the money to fix it up. I'm looking for a reasonable loan without astronomical rates and without points. Even a private money lender would be a great option.
Any insight would be appreciated. Thanks!
Looking for
Most Popular Reply
Shaun Weekes
- Loan Officer / Processor / Life & Health Agent
- Rancho Cucamonga, CA
- 757
- Votes |
- 1,784
- Posts
You're going to be looking at 75% loan to value with a traditional lender. However because of your loan amount being fewer than 50K it's going to be hard to find financing. I would look for a small local bank and see if you can get financing this way.
I hope this helps and have a great day.