Investment Property Refinance
Can you refinance an investment property, with no cash-out, if you have a credit score in the 600 to 650 range?
If so, who are the brokers who can do this?
Thank you.
Dana Ashley LLC
If so, who are the brokers who can do this?
Thank you.
Dana Ashley LLC
Comments(0)
I would like to know more on this as well . As well ones that will do it for ficos in the low 600 and 500
And ones that will do it nationwide
If there is no cash out this is a rate and term refi. depending on the property type, say commercial, they are more based on the cash-flow/cap rate of the property than your credit score.
If the place is hemorrhaging case, the lender might not case about your credit.
Look at recourse/non-recourse issues and the the mortgage becoming a non-purchase money mortgage.
WHO is doing refi s on property nationwide short term ? This would be on if you were to get a property by sub-2 How short of a term of having the property in your name tell they would refi it ?
These days it is near impossible to refinance investment property for many reasons. First of all let’s define what investment property is. Investment property includes anything that is not a residential, owner occupied property. This can include a non-owner occupied single family home, an apartment building, an office building and even raw land. To refinance each type of investment property requires a different approach.
To clarify, not only will there be far fewer private notes created and thus in the marketplace to buy, but the real problem is that without a balloon payment being allowed, the discount is going to be much greater on the note.
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"A deal is only as good as the quality of your Contracts." --Me[ Edited by LeaseOptionKing on Date 08/06/2011 ]
I think I put this in the wrong category. MODS - can you please move it?
thanks!