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Updated about 4 years ago on .

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Jeff Mellum
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Cash out Refi 3 unit - Investmenr property

Jeff Mellum
Posted

Good morning,

We are looking to do a cash out refinance on our Triplex. We have excellent credit and no debt outside of real estate. The lender I spoke with this morning told me there are new requirements (Fannie and Freddie) that don't allow them to lend beyond 60% LTV. Did that change recently? You used to be able to go 70-75% LTV depending on credit and property characteristics. Can anyone shed light on if this was a lender specific requirement or an industry requirement moving forward. Thank you!


Jeff