Here is the situation. A partner and I are holding 5 properties.
4 of them are under a mortgage with the big banks(SFH in good locations, all rentals).
The 5th one, we purchased using HELOC over a year ago and
have been unable to do a “cashout refi”.
My partner and I have principal residences as well as a
rental in each of our individual names. So less than 10 properties.
Credit is close to 800 and he & I have full time jobs in the 6 digits each.
The parnership rentals are in our names, each has atleast 20% equity
Our goal is to do a “cash out refi” on the 5th one and then use the
proceeds to bring up the LTV of the other 4 rentals to do a
“rate and term” refi to better the cash flow.
Please let me know if you have any suggestions for a lender to do a "cash out
REFI, a standard 30 yr fixed is what we are looking for.