ISO cash out refi lender

[BrannDon Albert]

Hi there! My wife and I are looking to do a cash out refi on our townhouse. Wondering if anyone has any recommendations for a good lender in Colorado.

[Christopher Lawhead]

Hi, 

I'm Chris Lawhead, Mortgage Broker with Excel Financial.  We're true mortgage brokers, which means I shop your loan to around 40+ lenders and make them compete for your business.  It's like walking into 40 banks at once.  If you want to compare the math give me a shout.

Chris

[Travis Sperr]

If you are looking to do a true cash out, on a personal residence most lenders are going to be the same in regards to loan to value, terms, etc. If you are exploring a line of credit there are a few local banks willing to go to higher LTVs - Keybank was the most aggressive last I saw, but even FirstBank will get up to 90% with the right borrower.

[BrannDon Albert]

Sorry, I should have mentioned in my original post that the townhouse is currently a rental. Previously our primary residence. Property currently has a first and second mortgage, I think both are ARMs so we would like to refinance completely plus pull out some cash. I will update my original post to clear that up...

[Jay Hurst]

On a non owner occupied townhouse you can borrow a conventional 30 year fixed up to 75% loan to value.  (potentially higher loan to value for for non conventional, but higher rate as well) This would allow you to get out of the ARMs into a fixed rate and pull out cash. Easy enough assuming you have good credit, qualify etc. Great time to do it as well with the recent slight down tick in rates.