Where can I find a lender that will do a cash out re-fi for a residential property titled in an llc?
Terms: NO-DOC and maybe stated income. 80% cash out.
There are several lenders that will do this but we need more info.
The first thing that needs to be discussed is whether you’ll need a No Doc or Stated income. These are 2 separate types of documentation types and are not used in conjuction with each other.
Another matter would be the length of time on title Is this a property just recently acquired?
Obviously credit is a factor.
Have you thought about quit claiming the property from the llc to you personally? Are you the only member of the llc?
There are many other questions like this that a mortgage consultant specializing in investment loans should be asking you.
Thanks investment loans.
The property has been in title just under 6 months. I would prefer to go No Doc. The llc is less than 2 yrs old. I have excellent credit and would be willing to co-sign individually.
Alternatively,
Keep the first in place and get a second loan to pull cash out?