Cash Out Refinance

[Ahmad Moore]

I’m experiencing a slight problem that I didn’t know existed until now and it may just be regional. (Mobile, Al) The two banks I tried to see what the numbers would be regarding a cash-out refinance, they only do 75% of the purchase price + construction cost and not 75% of appraised value that I’m used to.

I did try a DSCR refi, and after several paperwork being submitted, credit score ran, appraisal bought, only to have my numbers change before signing the docs for closing-so that was a dud.

My question, who do you know that’s a reputable Union or bank that’s doing at least 75% of appraised value?

[River Sava]

Hi Ahmad - What is the seasoning period? That is going to play a part in leverage. If it is over 6 months you should not have a problem getting 75% LTV.