| Author |
Previous Topic | Next Topic |
|
peter
6464 Posts |
 Posted - 11/07/2009 : 11:31:03 PM
|
I got a flyer from one hard money lender claiming that
they can cash out MLS-listed properties.
Wondering if all the hard money lenders can do this, or
this lender is a special case.
Anyone knows of anyother lender who can do cash out loans
on listed properties?
Peter |
|
|
|
propertylender.c
1627 Posts |
Posted - 11/08/2009 : 09:08:25 AM
|
Using hard moneys' own appraisal, it will most likely end up being less than 40% loan to value.
|
|
|
jakeh@loanpacifi
245 Posts |
Posted - 11/09/2009 : 11:34:54 AM
|
| We can do it conventionally to 70% as long as the property is off the market before the loan is submitted. What is your FICO and LTV? |
|
|
aaron1976
885 Posts |
Posted - 11/09/2009 : 1:57:45 PM
|
Peter,
I think most hard money lenders will allow this. We do not have a problem with it but we are capped at 55% LTV max on any residential refinance. |
|
|
peter
6464 Posts |
Posted - 11/09/2009 : 1:59:57 PM
|
Aaaron, thanks for the input. Is 55% LTV also for owner and non-owner
condos too? I do have some prospects.
Please re-confirm.
Peter |
|
|
aaron1976
885 Posts |
Posted - 11/09/2009 : 2:02:01 PM
|
| Yes. |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
