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I have a rental property, with no mortgage on the house ($100k).

Profile picture for m2mshah
I want to get cash out.
can anyone help?
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April 11 2011 - Detroit
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Answers (4)

Profile picture for jnowak1027
you can enter a cash out scenario here on zillow market place for an investment property.  Zillow lenders will be happy to compete for your business, just keep in mind the 70-75% LTV limitation and the inevitable condition of a letter of explanation detailing what you plan on doing with all that money.  As a warning, if you plan on using it as a down payment on another home, the underwriters will most likely want to consider that new, as yet undefined debt when qualifying you for this loan.
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April 11 2011
Profile picture for Mark Gelbman

Under current guidelines, you should be able to take out 75% of the value, depending on credit scores and other factors.

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April 11 2011
Profile picture for SuperiorHomeMortg.
You can still get cash out on an investment property. Most likely it will be 70% of the appraised value.
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April 11 2011
Profile picture for Robert Greenblatt
Hi.  Contact your local bank to consider a mortgage or home equity line of credit.

-Robert Greenblatt
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April 11 2011
 

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