All Forum Posts by: Nathan Frost

Quote from @Nathan Frost:

Quote from @Jason Hirko:

@Nathan Frost Is the rehab completed? If we can get an as-is appraisal over $100k after the rehab, we can get it done!

Man if you could get me 80% that would be great. Most only do 75% and I could be out some money when I want to get all my money back aka BRRRR method.

Hi Nathan! Congrats on this deal! Up to 75% of the appraised value when you are finished with the renovation is typically max leverage on a cash out refi. On a rate and term refi up to 80%. On BRRRR’s ideally we get all the cash out if we can. But sometimes even if we leave some cash in the deal the cash on cash returns can look really attractive. David Greene talks a lot about this on a lot of his shows. Happy to discuss further. 

Quick math tells me that you can get about 37k (minus closing costs) in a cash out refinance. Is that worth taking the penalty and the closing costs? Depends on what you plan to do with it.

Quote from @Nathan Frost:

Quote from @Chandler Kimble:

Hi Jake! I'd be happy to assist you with the cash out refi on your TX investment property. Let me know if you'd like me to run a free estimate for you. 

Do you you do cash outs? I am trying to find a cash out refinance for 80% below 8%. Right now I have 75% at 7.5%

 Fannie/Freddie will only go up to 75% on a single family non-owner, so to go up to 80% you have to use non-QM financing which is going to be higher rate then fannie/freddie.  Your loan size will also effect the rate as a lot of the better non-qm financing have loan mins etc.  

Hi Jake! I'd be happy to assist you with the cash out refi on your TX investment property. Let me know if you'd like me to run a free estimate for you. 

Hi Melanie,

We have the ability to lend 80% LTV on a Cash Out Refi as long as there is a lease in place and Property Debt to Income (PDTI) Ratio is 90% or less. Unfortunately, we do not lend in Alabama at this time, but we are always looking to expand if there is a market for it. Feel free to list the property details (as-is value, PDTI, credit score approximation, city) and I'll give you an idea if the parameters look realistic relative to our standards!

@Mark Nicholson...did you find what you're looking for?  There's not many out there who will do what you're asking for, but they exist. 80 ltv cash out for non owner exists but it comes with certain caveats. And it's also not going to be conforming conventional loan program/terms. 

@Manny Martinez- you can, and the HELOC will save you money, I've done it many times. Your net interest and holding costs are much more involved than just your interest rate, you have to take the time-cost of that money into account. You asked for advice, I am offering it, if you want to learn how, feel free to PM me.

@Nathan Frost Is the rehab completed? If we can get an as-is appraisal over $100k after the rehab, we can get it done!

@Nathan Frost Is the rehab completed? If we can get an as-is appraisal over $100k after the rehab, we can get it done!