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Jonathan Roveto's profile image
Jonathan Roveto's profile image
Jonathan Roveto
  • Investor
  • from Marietta, GA
  • Member since Oct 19, 2016

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Jonathan Roveto's profile image
Jonathan Roveto's profile image
Jonathan Roveto
  • Investor
  • from Marietta, GA
  • Member since Oct 19, 2016
Jonathan Roveto
  • Investor
  • Marietta, GA
10
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Private Lending & Conventional Mortgage Advice

Bank cash-out refi on rental

Jonathan Roveto
  • Investor
  • Marietta, GA
Posted

Hi all! I was wondering what is typical for banks when it comes to cash-out refis on rental properties (if possible). I have a property that I would bet could appraise for $130k and has about $82k left on the mortgage. It's with a big bank and is a rental SFH. Do banks tend to allow refis on rentals? What do they tend to let you refinance up to? If >80% LTV, do they require PMI? Thanks for the info!

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Aaron Howell's profile image
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Aaron Howell
  • Real Estate Agent
  • from Crozet, VA
  • Member since Apr 24, 2014

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Aaron Howell
  • Real Estate Agent
  • from Crozet, VA
  • Member since Apr 24, 2014
Aaron Howell
  • Real Estate Agent
  • Crozet, VA
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Aaron Howell
  • Real Estate Agent
  • Crozet, VA
Replied

You might only be able to get about $15K out of the refi and with closing costs that may not be much of an advantage.

  • Aaron Howell
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