OfflineHello DG Family,
I know that many of us are looking for banks that will do no seasoning refi loans. I have found one here in Kansas City MO.
Here is the message I received from my local REI club.
Topic: Cash Out Refinancing for Investment Property
Message:
I am hearing we are one of the few lenders that will "cash out" on investment property, and we don't require seasoning. We also offer the Homepath financing with only 15% down for investors, and we are still doing great work with rehab lending.
Ann
Argentine Federal Savings
I hope this information helps some of our DG family:)
__________________
When you say thank you, you are telling the world that you want more. Say thank you every day! It will bring joy, and it will bring so much more.
The question on this post is have you called them to qualify the bank further?
Here are the questions Matt Larson came up with that we as coaches now use:
1) Do they do in house loans?
What is your bank's aggregate?
2) What are your in house loans?
3) What are your seasoning requirements?
4) If you purchased a home last month with cash can you refinance this month?
5) What LTV do you use for a refinance loan?
6) Is LTV based upon appraisal or offer price?
7) How quickly can you turn around a refinance loan?
9) Do you submit loan information to the credit bureaus?
10) Will you count the cash flow from the property towards the financial statements?
I may suggest calling the bank and asking these questions. They will help us understand the bank better.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125