Cash-out refinance for investment property?

Posted on April 20

Question: Is it possible for me to get a cash-out refinance for my two investment properties I own free and clear? I paid all cash for them about a year ago and was unable to obtain this type of refinance last year. I already have 4 houses with mortgages, and bought these two with cash.

Conforming guidelines allow cash-out up to 75% LTV (must own more than 12 months). We can lend on more than 4 properties, but, I suspect you’ll have some difficulty with the cash-out on investment properties.

I would recommend you, consider developing relationship with a business banker, if you’re considering using the cash-out to acquire additional properties, you may find commercial lending very attractive.

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