I have 805 credit and one rental that is completely paid off at a value of ~$110,000 and is occupied.I would like to borrow against my rental to buy another house (as a rental) all cash.I've contacted two companies and they've given me a 5.375%, 30 yr, on $75-85k borrowed.Note: The two companies that I've contacted...

Have a written set of requirements that you apply to all that wish to apply so you can avoid a discrimination claim. 

Here are the details:19 units, 11 need complete rehab (down to the studs). 7 units rented month to month at an average of 395/unit. 1 unit rent ready.

They claimed the "rules have changed" and we would see a longer cycle this time.

(To date: over 15,000 completed transactions)Direct mail.

The building was completely occupied with rents way below market.

Anyway, my property assessment increased almost 40% from the last assessment (house was completely renovated), but is still $65k under the closing price.

., you are completely missing the point here as it is to HELP THEM.

I'm no lawyer, but you may want to present this situation to one and get some advice. if you're using an agent, they should be fighting on your behalf to complete this transaction.

Once this project is complete, I may have a 2 family that will need extensive rehab as well.