Profile picture for TCavallini

Reno/Sparks Investment Property Lenders

I am looking to refi two properties in Sparks that still have equity, make good income, but am looking for 40 yr amortization.  Any suggestions/recommendations!?
  • January 11 2009 - Sparks
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Answers (1)

Profile picture for Bentley Advisors
You may be out of luck w/ a 40yr amort.  Even before the credit crisis, I recall these being priced higher than the 30s.  Nowadays, any loan program that's not plain vanilla has been shunned by investors forcing rates relatively sky high.  As long as you have 25% or more equity in the homes, you'd probably be better off w/ a 30yr amort assuming rates in the mid-5's versus 7%+++ for the 40s.  If you're looking to maximize cashflow, you might look at the 7/1 ARM w/ Interest-Only option.
  • January 11 2009
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