Loan Options Texas Lenders
I have a property in Galveston TX that is 4/2 about 1600sf and appraised last week for 237,500. I am looking for Cash out Refinance to hold this property.
The title will be held in a LLC. The guarantor has a credit score of 780.
Market rents are between 1600 and 1900. The rehab work has just finished on the property and it will be used as a short term rental for the first year and if that doesn't go well, we will switch to using long term.
There is roughly 108K in existing loans on the property and we have invested a little over 200K into the property in purchase, rehab and holding costs.
If you are offering anything less than 70% LTV, don't waste my time. If you need 30 days or more to close, don't waste my time. If you have 75% LTV loans and can close in two weeks, lets talk. I can send you the appraisal.