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Question about refinancing rental properties

If I want to get cash out of a condo I have not occupied since 2001, is that possible? It has been paid off for over 6 years now so the mortgage is way behind me. However I need fast cash from equity if I can to finance a new rental and get that project going. What's the best I can do with 704 fico? by DJbrenner89374627 from Clover, Virginia. Mar 6th 2015 Reply


Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

I can finance up to 80-85% of the current value of a rental property with a cash out loan. Click my name above for contact info, apply online or send me an email: pdumouchel@primelending.com

Mar 6th 2015
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Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,224 contributions

PS. Assuming you qualify for that amount of mortgage. Also, a consideration is how many properties you already have with mortgages on them.

Mar 6th 2015
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Call me at 443 660 9903.I can provide conventional and private financing.

Mar 6th 2015
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Jericho Cherry (Jerichocherry)
#58 ranked lender in Virginia - 1,107 contributions

I am located Virginia. Please give me a call. 804-556-0685.

Mar 8th 2015
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

This is not going to be an easy loan to find.. most lenders wont do a cash out on a condo.. and if someone does, then the project has to be approved.. the lender will require a "condo questionnaire"... depending on how this document is filled out, will determine if the project is acceptable or not.. The best advice I can give you is to contact a LOCAL mortgage 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 your LOCAL 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 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 larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Mar 9th 2015
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