75% + LTV Lenders in Norfolk area

[Paul Rice]

Hey all, I'm at the refinance stage of a duplex BRRRR and have been calling around to Lenders. The word on the street seems to be that most institutional lenders are capped at 70% LTV due to some sort of Covid restriction. Some lenders are always capped at 70% to abide by Fannie/Freddie restrictions, but now even more are because of Covid. Does this resonate with what you're hearing from lenders right now? Have you found any that can still do greater than 70% LTV?

Thanks in advance,

[David Kelly]

Hi Paul, 70% LTV is the conventional max on a cash out refinance for an investment property that is 2-4 units. You wont find a conventional lender that can go to 75% with Fannie/Freddie.