In Need Of Good Advice???
My husband and I own two homes. We want to buy four-plexes and we own a rental with between 100,000-to-150,000 equity in it. We want to keep that rental and refiance and take out money to purchase the properties. Is it possible to take out 100% on a rental or just 80% of the equity? Also, when buying 4-plexes does anyone loan with only 10% or less down. Just starting to look around and keep coming back to this site...it's very educating! Thank you all !! <IMG SRC="images/forum/smilies/icon_confused.gif"> [ Edited by toolittletime on Date 12/16/2003 ]
Depending on your credit and income it is possible to get up to 100% on non owner occupied investment properties. The lenders tab above might provide some starting ideas (search CA, non owner occupied, 0% down, 2 results, more down would probably bring more results).
I am sure others will chime in, but again, depending on your credit/income a 100% refi could also be on the cards.
Thank you for the advice...I looked at the lender's tab and saw that with our credit rating it is possible. I'm excited to start...But nervous too it! Thanks again