Tapping Equity - Posted by Sean

import · January 10, 2003, 2:01pm

Posted by Charles Clark on January 10, 2003 at 16:27:40:

Hi Sean,
There are several 95% LTV and 100% LTV investor programs, hard to qualify for, but might help you.
There is some information that a lender will want to know first. How long have you owned them, What is your min FICO score, how is your DTI? Are you able to show a profit on each property if you were only getting rent 75% of the year.
Best Regards,
Charles Clark

import · January 10, 2003, 2:01pm

Posted by Sean on January 10, 2003 at 15:01:18:

Neophite investor, own a few single families been purchasing rehabbing, refinance and renting. Properties are mortgaged at about 75% of FMV. Are there any lines of credit, or other finance options that I could use to tap this equity to purchase/rehab more properties?

Currently I am using HML’s to purchase rehab and then refinance, but would like to phase the HML out and use my equities to finance purchase/rehab if possible.

Thanks in advance.