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cash out

by Rodrigo De La Garza from Athens, Alabama. Jul 13th 2017 Reply


Tom Lewis (Tom@thamesjackson.com)
#15 ranked lender in Alabama - 15 contributions

Is there a specific question you have regarding cash out?

Jul 13th 2017
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What is the max LTV for cash out refinance?

Jul 13th 2017
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Tom Lewis (Tom@thamesjackson.com)
#15 ranked lender in Alabama - 15 contributions

Generally speaking, 85% of the appraised value of the home. This is assuming that you have owned the property for at least 12 months. If owned less than 12 month's you would need to base the 85% off of the lessor of the purchase price or appraised value.

Jul 13th 2017
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William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,008 contributions

Yep.. we got em.. The best advice I can give you is to contact a mortgage bank/broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with a Banker/Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the banker/broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and fees than most of the big box banks. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Jul 17th 2017
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