Advice: cash out equity - Posted by Mark P.

Posted by garth on April 21, 2003 at 16:21:21:

Mark,

If you are in a super hurry try a hard money lender rates are high but money comes to you real quick and credit as big an issue.

On the other spectrum maybe try a non-conforming wholesale lender. Higher rates but less than hard money will have a lot of criteria to qualify although they work with lower scores.

Otherwise what’s the hurry? work on building your score back up in order to get better rates and terms. Whatever your score is now does not mean it can’t change hopefully for the better in the future.

Another idea if possible is to move in because owner occupants get better rates.

Let me know if this helps.

Advice: cash out equity - Posted by Mark P.

Posted by Mark P. on April 21, 2003 at 11:25:58:

Looking for advice for a cash out equity loan on rental property that has no current liens against it. I have tried several different mortage companies but always hit some kind of snag( credit score to low(580), can’t do that type, or “can’t get the type of appraisal required by us”) Does anyone have any useful advice. Thanks