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I have a total of 3 rental properties; I want to refi them all. I may need cash out of 1 to lower L

The properties are currently financed on adjustable mortgages & I would like to put them on fixed.  I will probably need some cash out of 1 of them to bring the LTV down on the other 2 depending on available LTVs and appraised values. What are my chances of getting this done?
  • April 28 2010 - Collierville
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Answers (2)

Cash out on rental property is a little tricky but it can be done. I just closed one last week. Whomever the loan officer is, they will probably need a lot of documentation so don't be mad when they are calling all the time and getting you to clarify or update something.
  • May 12 2010
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Cashout for an investment property is not easy, but you should be able to refinance if you have no more than 4 financed properties. The LTV will be 75% on all properties.
  • April 28 2010
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