Refinancing a rehab property - Posted by Alex (SC)

import · February 21, 2005, 4:18pm

Posted by Rob on February 21, 2005 at 18:30:17:

Also, try a small local bank. As long as you can document your rehab expenses there should be no problem. Just keep looking the lenders are out there.

import · February 21, 2005, 4:18pm

Posted by Alex (SC) on February 21, 2005 at 17:18:32:

I have had a rehab property for about7 months…Just getting ready to finish…I had others going on that is why it took so long…Went to a Mortgage company and they told me I can not refi property until I’m on deed for 12 months…How can this be…I had an 80% Loan to value on it from investment banker…I need to refi property at 85% so I can get it off her books to do another…Please any ideas let me know?

import · February 21, 2005, 10:09pm

Re: Refinancing a rehab property - Posted by Joe

Posted by Joe on February 21, 2005 at 23:09:39:

Try Downey Savings from Ca. I’m in AZ, but they did my loan based on appraised value after 6 months of seasoning.

import · February 21, 2005, 5:58pm

Re: Refinancing a rehab property - Posted by JonC

Posted by JonC on February 21, 2005 at 18:58:28:

I’ve had good luck with local banks and get an interest only construction loan.

import · February 21, 2005, 4:57pm

Re: Refinancing a rehab property - Posted by John

Posted by John on February 21, 2005 at 17:57:28:

Try a different Mortgage company. Some have seasoning issues and some do not. Try a mortgage broker that will shop you loan thru many different lenders. It is able to be done