Are the properties considered Non-owner occupied or Owner occupied? Do you rent them or live in them? Are you on Title now? My guidelines state: Loans with acceptable continuity of obligation may be underwritten and priced as rate-and-term or cash-out refinances according to the standard definitions. An acceptable continuity of obligation exists when:?The borrower has recently inherited or was legally awarded the property (for example: divorce or separation)Since there are no Existing liens and you did not recently purchase the property, we must use an appraisal to determine what Cashout you may be entitled to take out. Up to 80% Loan to value on Convetional and 85% FHA. FHA has 1% up-front premium but the rate is lower than Conventional. I lend in all States. Let me know if this helps. I have low rates and low fees. RC

Enter your answer heremost lenders will not cross collateralize a their loan (loan on multiple properties) so you will likely need to take out two separate loans if you need more money than one will provide. If you are occupying one of the homes it woudl be best to use it first as the rate for an owner occupied home is lower and the underwriting guidelines are more liberal than they would be on an investment (non-owner occupied) home.

You can do a cashout refinance on the property but how 's the rate will work and how much you can borrow is depending on if this is a house that you are living in or is it a non-owner occupied. First thing you will need to do is to contact mortgage company and have them do prequalification for you to determine how much you can borrow and what will the rate be then if it is agreeable to you then you will have to provide documentation such as income, asset, and so on. The mortgage consultant will then guide you from there.My name is Ana and I am a senior loan officer at First USA Home Loans with 10 years of experience. Please contact me and I will be more than glad to assist you with this or to answer any questions you may have.1-877-472-9887 or avichaidist@firstusahomeloans.com