Need advise on cash out REFI
I own a SFR property in Syracuse, NY. I would like to know which is the best lender to talk to for cash out refi up to 80% LTV. Does most lender lend to my LLC instead of personal profile? Please advise. Thanks
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I've been speaking with Fulton Savings Bank for a cash out REFI in Syracuse. They will do 75% LTV. The issue I am coming across is the fees and costs of the refi can be very high. I'm looking at pulling a total of 75K out of 2 properties that are worth 50K each and the costs and fees are around 10K - that's 13% just in fees - before you start repaying at X% on the loan. One of my properties is in an LLC and the other is in my name personally. It doesn't make a difference. They will want your personal financials to make the lending decision.