I have a house I bought all cash back in july, just put a 15 year 8.25% “retail loan” on it in order to buy another house. House is probably worth 80K, I paid 45K in july, refianced out 35K for another house, and now I would like to refi that loan into something with a better rate, have great credit, the house is in my LLC’s name.
Anyone help me??
Problem is the lower loan amount.
Not many brokers/lenders will go under $50k.
If you’re the only person on the llc then you should not have a problem quit claiming this over to your personal name for the refi.
More info is needed for a more accurate recommendation.
Wachovia will do this type of refi (LLC).
wachovia wouldn’t do this one. Their portfolio program requires minimum $75k loan amount plus they have seasoning requirements.
Although not cash out, you’re refinancing a cash out loan within 1 year. So instead of rate/term refi its still considered cash out.