usewicke
Joined: 16 Oct 2007
Posts: 2
Location: Grand Blanc, Mi
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| Posted: Thu Oct 18, 2007 3:01 pm Post subject: Cash Out Refi For Investment Properties- Michigan |
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trying to do a Cash out refi On investment properties that I own free in clear in cash. Example: purchase for 20K put about 5k into... got appraised for 65K.... trying to cash out for about 80% LTV (52K back)... I most likly have to go stated becasue I am basically self employeed... If I go full doc I only have half of last years taxes to show since I just graduated from college. The year of 2007 I have been working in the same place, now being paid under a DBA (doing business as)
Are there are lenders out there that are able to get this done!! I have got one done before WAMU closed there doors on there program.. now I am struggleing to get another one or two done... looking at huge interest via chase (12%)
I have a middle FICO of 680... and usally the properties have little seasoning(lenght of ownership) I like to refi ASAP and not weight for seasoning requirments. My current one house has 6 months of ownership.
I live in michigan, can someone help?!?!?! Trying to buy more properties but i am at a stand still! |
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