Updated 11 months ago on . Most recent reply
Lender Options for a nice BRRR
I picked up a lovely duplex in Clinton, MS. It should be fixed and rented within a month or two. Can anyone recommend a lender that offers refinancing for investment properties with a 30-year amortization? It seems the only way to make the numbers work decently with these interest rates.
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Erik Estrada
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Erik Estrada
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$130,000 would be a bit over 75 LTV. While you can do an 80 LTV cash out, the terms won't really work well.
Assuming you have a FICO over 720 and the taxes and insurance aren't insanely high, you should comfortably be able to cash flow at a $127,500 Loan Amount. Rate would likely be at 6.875-7.375% depending on your prepayment penalty period and seasoning period.
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