Forgotten Your Password?

Need to Register?

Question Icon

No equity.

My rental home needs major repairs and improvements in order to sell and not be upside down and it is not in a condition to rent at the time. can i get a home improvement loan against my home somehow still? Arizona. by seemant834 from Phoenix, Arizona. Jul 19th 2019 Reply

William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,728 contributions

More info needed, but in general.. NO.. if you are trying to do a cash out refinance against a rental property, then your capped 75% loan to value.. (assuming it's a single family home, lower if it's multi housing).. However, there still might be a way to get the cash you need.. Do you have equity in your primary home?? You could do a cash out refinance on it and then pay yourself back when the rental sells.. If you have really awesome credit, there are lenders out there that will give you a signature loan.. so no real estate necessary.. Realistically, there are many options available.. but without the necessary information, it's difficult to advise you.. Try reaching out to me.. i'm here in AZ and very familiar with the Phoenix market.. I've been a real estate investor here for over 30 years.. I'm a preferred Lender with California and Arizona 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 NMLS# 226347 / MKS Lending LLC DBA Trusted Lending Center, NMLS 1018196 / AZMB 1414920

Jul 22nd 2019
Subscribe to our news feed.