Line of Credit - Connecticut property - Posted by Tim (CT)

Real Estate Investing Real Estate Financing
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Posted by Brian Van Way on January 25, 2005 at 11:37:25:

I get my lines of credit from Deep Green Bank or recently deepgreenfinancial.com. I have just recently done two non-owner occupied re-fi’s at 75% LTV interest only through Flagstar Bank. At 75% LTV, you should be able to pull about $50,000 out of the property. Email me if you’d like to work with my mortgage broker on this one.

Thanks,

Brian

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Line of Credit - Connecticut property - Posted by Tim (CT)

Posted by Tim (CT) on January 21, 2005 at 15:12:02:

I’m looking to do a line of credit on a non owner occupied property in Connecticut. I have a 3-family in Bristol that has a market value of approximately $235,000. I have a 1st mortgage of about $125,000. I’m looking for about a $40,000 line of credit to be used for investment purposes. Anybody know of a lender that will do non-owner occupied packages? I’ve spoken to a couple of smaller, local banks about doing a ‘working line of credit’. Both of them said they’ve gotten out of that business and will only lend money to people on a ‘property by property’ basis.

Thanks in advance.