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Updated almost 3 years ago on . Most recent reply

Taelonn Harper's profile image
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Taelonn Harper
  • Real Estate Agent
  • from Columbus Ohio
  • Member since Mar 22, 2019
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Taelonn Harper's profile image
Taelonn Harper's profile image
Taelonn Harper
  • Real Estate Agent
  • from Columbus Ohio
  • Member since Mar 22, 2019
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Taelonn Harper
  • Real Estate Agent
  • Columbus Ohio
10
Votes |
33
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BRRRR - Buy, Rehab, Rent, Refinance, Repeat

Refinance a rental property

Taelonn Harper
  • Real Estate Agent
  • Columbus Ohio
Posted

Do you need a preapproval letter to refinance a rental property? 

If I buy a property with Hard Money, then want to refinance with a Bank. Do I need to be preapproved, is there a chance I will be denied and stuck?

Columbus, Ohio
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Issac San Miguel's profile image
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Issac San Miguel
  • Lender
  • from Austin Texas
  • Member since May 13, 2022
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Issac San Miguel
  • Lender
  • from Austin Texas
  • Member since May 13, 2022
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Issac San Miguel
  • Lender
  • Austin Texas
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Issac San Miguel
  • Lender
  • Austin Texas
Replied

You do not need a preapproval letter to refinance your own property.

There is a huge demand for long term products right now on the private money side of things.

5/1 and 7/1 ARMs have great rates right now as well as 30 yrs. 

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