Investor friendly banks around to refi a duplex?

Investor friendly banks around to refi a duplex?

Flipper/Rehabber · Canton, OH · Member since 2019 · 26 posts · 10 votes

Any recommendations for a local bank or credit union that will refi a duplex that anyone likes to use or has had a good experience with?

Thanks in advance!

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  • Simmy AhluwaliaPro Member
    Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
    5y

    @Alec Frasier - We probably can depending upon the numbers.  What is the value, debt left and rental income?

  • Flipper/Rehabber · Canton, OH · Member since 2019 · 26 posts · 10 votes
    5y

    @Simmy Ahluwalia

    As is value- $175k

    Amount owed- $147k

    Rental income- $1,600/month

  • Simmy AhluwaliaPro Member
    Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
    5y

    @Alec Frasier - thanks, but you won't qualify for a refinance. There is not enough equity. Max refi would be 75% LTV, which would equate to $132k, and you owe $147k.

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