Cash out Refi in NC - need suggestions

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
in them.

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.


Cash out refis are very hard but you seem to have a situation where one is possible. Just have to keep calling lenders to ask what their refi guidelines are and then try to make your situation match the requirements.

Call every bank and mortgage broker you can find.

After that doesn’t work, some other tricks. Sell the property to a different entity and get a purchase money mortgage for it.
Or take out a hard money refi and then do a rate and term refi for the same amount at a better rate. That avoids the cash out problem but obviously you have costs to the HML.

Good Luck, this is a tough problem nowadays.