All Forum Posts by: Jamal Headen

@Joe S.

Not that I'm aware of. I'm doing a 5/1 ARM. I would call and discuss the different products they have to offer.

@Scott Winter

Civic Financial Services

@Michael Glist and @Jared Rine...Thank you so much for the insight.

Thanks Wenda...So I have not finished the REHAB as of yet; however, I wanted to start rate shopping now as I expect the REHAB to be finished in the next couple of weeks and the property rented out soon there after.  I'm tracking that there is a 6 months season period, but I wanted to grease the skids and get approximations before the time came so that I could manage expectations.

Whitney,

Thanks for the response.  I closed on the house in the latter part of February.  I hold the title myself as this was a cash purchase.  I hope that helps.

I’m nearing the end of a REHAB on a property I purchased with cash two months ago. I am using cash for the REHAB as well, and intend to rent it out, and find a Bank to do a Cash out REFI.

I have already reached out to three banks I’ve used in the past, where two are only offering 15 year mortgages for Cash out REFIs and the 3rd is only offering Cash out REFIs on primary residences.

I am going to continue to look; however, I seek any recommendations from the audience on reputable banks or lenders that are offering 30 year Cash out REFIs on investment property at a competitive rate, and also doing so during the pandemic.