Looking for banks that lend once prop is rented

3 Replies

Hello everybody I am a up and coming investor here in Fresno, CA and I was wondering if anybody knew of any banks that lend on the appraised value of a property as soon as the property is rented out.  Please let me know, thanks in advance!

@Eduardo Villa

Was the property financed initially? With conventional, you can cash out refinance on appraised value if you paid cash for the property based on appraised value, prior to 6 months. You are limited to a cash out max of your initial purchase price plus closing costs, prior to 6 months. 

@Eduardo Villa there are a number of options for you, most lenders like having the property cash flowing before they lend to it.  you should be able to easily do a cash out loan.  feel free to shoot me a message if you'd like some names of good lenders.

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