OfflineI would like to refinance the mortgage on a duplex (rental - non-owner occupied) in Santa Barbara county but I'm running into the max amount ($575K) permitted with regular lenders. Does anyone know of any lenders that will finance higher amounts (LTV 75%)?
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I live in Santa Barbara and have used McAdam's Financial in the past. You can also try the Santa Barbara REIA to ask around (join through Meetup.com, it's free).
- Tom
I would talk to a good mortgage officer that works with a lot of different lenders to see what they could do. Also try local banks and credit unions to see if they will give you a higher LTV. In a non-owner occupied you will not find any lender that will go over 80%.
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Thanks Tom
I think Tammy with Zion Properties had a similar cashflow property or it was a single fam. property, where she had to refi it fast. She looked all over creation, and finally found someone. Her property was in Cali, too. Crazy, huh?