Looking to refinance my first BRRRR in Harrisburg, PA and trying to find a lender that will do 80% LTV on a cash out refinance. I know this is difficult to find especially in these times which is why I'm posting here to see if anyone has any advice on how to go about finding it.
Looking at some deals in Philly right now and would love to know of any lenders currently offering a refinance wiTh 80% LTV on a 30 year mortgage.
I did a 80% LTV cash out using a first position HELOC with PenFed just recently. With Covid your looking at a loan process over a month almost two.
If you are going to get a Fannie or Freddie loan it is going to be impossible to get an 80% LTV cash out on an investment property.￼. In that situation I would suggest getting the 70 to 75% LTV and doing a second HELOC. This will open up some more cash for you.
Cash out refinance:
Primary residence 80%
2-4 unit primary residence 75%
Second home 75%
One unit investment property 75%
2-4 unit investment property 70%￼
Get ahold of me with questions!
Might want to try S&T Bank in Mechanicsburg.