I’ve exhausted what seems to be all conventional methods for financing and I’m now researching alternatives. I purchased a short sale condo in Jacksonville, FL just over a year ago with cash since my bank financing fell through 2 weeks before closing. I’m now trying to get cash out of the unit to use paydown and refinance my primary home mortgage. Big bank lenders won’t lend to me now that it’s a cash out loan so I’m looking for alternatives.
My question is are lenders willing to lend for a cash out condo in Florida? I have an active lease with renters, unit is in great condition and I have excellent credit.