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we own a duplex, according to zillow market price is$950K we owe $425K, have and equity line of 98K. can we refinance to get cash.

by edilsarestacuy239 from Redwood city, California. Jan 18th 2016 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

Generally yes, you can typically cash out on a home. But there are limits based on many factors. For example, is it owner occupied, or a rental? Contact a local mortgage broker in your area, give them a full application, and let them zero in on what is available to you for your individual situation.

Jan 18th 2016
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Jim Schaefer (jschaefer@goldstarfinancial.com)
#63 ranked lender in Minnesota - 13 contributions

Yes. You are able to get cash out on this property. There are several loans that we could finance this transaction with. Gold Star Mortgage can help you with the financing and we can get the loan closed in 30-45 days. Call me at 612.501.5113 or email me at jschaefer@gsfmail.com! Thanks, Jim

Jan 18th 2016
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Barclay Butler (Barclay)
#85 ranked lender in Illinois - 66 contributions

Yes you can but you would want to go with a Jumbo mtg. because your loan size would be too high for a Conv. loan the cap is $533,850 for a 2 unit. Barclay Butler. 224-420-9990.bbutler@barclaybutlerfinancial.com. www.barclaybutlerfinancial.com

Jan 18th 2016
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Patty Harrison (PattyHarrison)
#94 ranked lender in Illinois - 64 contributions

Depending on your credit and income qualification, you should be able to get cash out on your home. Please email or call if you would like more information or a quote if your property is in Illinois. Best regards, Patty Harrison, patty@smartmtgs.net

Jan 18th 2016
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Larry Gray (lgray_312_247)
#566 ranked lender in California - 1,127 contributions

I an refinancing a rental property with cash-out for a client now to 70% LTV. If you qualify in regards to credit, DTI, etc...you do still likely have room for cash-out be it primary home or investment property.

Jan 18th 2016
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

Possibly, but lending guidelines limit your maximum loan to value.. which for investment cash out refi's on 2 units is 70%. Obviously, much more info is needed, but the guidelines do allow for a cash out refi, even on investment properties.. 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 NMLS# 226347

Jan 18th 2016
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Bill Cook (loanpro)
#636 ranked lender in California - 43 contributions

It sure appears that you can refinance. However, that is sibject to verifying your credit report and income.

Jan 10th 2017
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