are there cash out refinances for 100K duplexes.
I’m on the verge of closing my first rental property (90k) in Ohio. It needs some exterior repair and parts of the roof as well.
Assuming it gets appraised minimum 100k after repairs.. will I be able to take out a cash out refinance ?
the equity in the property is 25% Miminum (that was the down payment).
thank you.!
newbie investor
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River Sava
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River Sava
#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
Pro Member
#2 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
- Lender
- USA
Hi Jose - Some lenders have a 75k minimum loan amount. Seems like you would be right at that threshold assuming the appraisal comes in at 100k with 25% down.
Happy to answer any questions you have. Feel free to shoot me a dm.