LTV/Refinancing ?
Is there a normal LTV percentage on a refinance or does it just depend on the lender?
Is there a such thing as 100% LTV on a (duplex )refinance?
Is there a normal LTV percentage on a refinance or does it just depend on the lender?
Is there a such thing as 100% LTV on a (duplex )refinance?
Check with a mortgage broker there are hundreds of programs available. I am pretty sure they have one that will accomplish what you want to do.
100% refi on investment property is pretty difficult. I have not found it. It if is available, be ready to pay several points.
Brenda
Its a weird polygomic marriage of sorts involving three Main factors, Cash flow, credit, and type of property.
From there it splinters into how long you have had the property that will dictate point spreads.
immediate 0-30 days (extremely High)
6 months(moderately high),
1 year, (average)
3 years(ideal length and lower points).
If you can give us some more specifics, we could help you out further.
Good Luck,
Kyle[ Edited by KyleGatton on Date 04/20/2004 ]
There are a lot of 80/20 programs out there for 1-4 units. If you're an owner occupant you'll get a better rate. Start calling mortgage brokers and banks and see what they tell you.
Check your local classifieds also. In ours there are always people advertising 100% LTV loans for 1-4 units.
Your post is specific to a duplex (2 family). This would be a residential and not a commercial mortgage.
Yes, a 100% LTV refinance is possible providing there is a great credit score and other factors such as ratios, and verified reserves.
Cash-out as part of the refi could be a problem, though.
In what State is the property?