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I have two separate rental properties that each have a LTV of about 75%. I'd like to leverage these properties to buy another investment or rental property so I am considering refinancing with cash out.
I am having trouble finding a lender that will work with my scenario in the current financial environment even with my excellent credit rating. Can anyone recommend a lender?
Can anyone recommend another method of leveraging the equity I have to allow for further investing?
I have been shopping around for a refi on my rental property. All of the programs are 75% LTV that I have found. This appears to be the new reality that we are in. Therefore, you won't be able to get that last 25% out.
I did get a great rate from Wells Fargo today at 5.25% for a rental refi cashout but it will be a 75% LTV.
