Refinance Rental Property - Lender Recommendation?
Hi I have a rental Property in NY - a 3 Family Multiunit. 1 Unit is rented for $800, 1 is being prepared for rent (gets $1500) and the other one is getting evicted should be empty next week and gets $1200).
We bought the property with a hard money loan (10% interest 9 months), we have held it for 6-7 months and looking to refinance.
I am looking for a company that offers longer term financing on rentals that is based primarily on the property for a BRRRR. (Lowest interest and longest term!) Non recourse preferred but open to either. I spoke with one company that offered 7.4% on a 30 year loan based on credit score but looking for other options.
Current Loan = 134K
Bank Appraised when we bought it 6 months ago = 190K
Thanks in advance!