Refinancing a $60,000 investment property in CT
Hello,
I have been trying to find a bank that can help me do a cash out refinance(or HELOC) on a $60,000 investment property that is fully paid off. Most of the banks I have talked to will not refinance on a property that is below $100,000 and much less if it is not owner occupied. The property is in Storrs, CT. Does anyone know of a bank that can help me with this?
Any help on this is greatly appreciated.
Most Popular Reply
I was able to get a HELOC on an investment property through TD Bank, I think it was 75% (don't quote me on that).
I have refinanced, but use a small local bank that does portfolio loans. I almost use them exclusively for loans.
You can call around and ask who has a portfolio loan product, and if they will refinance an investment property.