Anybody have success with a specific lender for 75 LTV cash out refis - particular on 2-4 unit small multifamily (pure rental, non owner occ). I've always had a lot of success with FirstBank, but they've recently gone to 70 LTV for cash outs of this type, and I'm really after a lender that will do 75 or better.
Hi Steve! I may be able to help. Please connect/message me directly. By the way, I used to live in Colorado--Golden is great place!
It is my understanding on a cash out refi, fannie and freddie are limited to the 70% of value. If you find an outlet for 75% you will likely pay for it in the rate, potentially outweighing the benefit. Depending on what you need the cash for there are some great terms on personal loans that are not secured, I've heard with rates as low as 6%. You would have to do the math, but the blended rate would likely make sense.
Great question, Capital Fund 1 and I can get up to 85% leverage on a cash out refinance and we offer both short term interest only and long term amortizing options. Let's chat!
Last I knew Adams Bank and Trust would go up to 75% LTV on an investment property.