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Can i get a cashout refinance for a 5th investment property?

by julian.dean8979398 from Prior Lake, Minnesota. Jan 27th 2014 Reply


Jason Vondrak (jvondrak)
#220 ranked lender in California - 1,741 contributions

Sure, it's possible, but a lender will need much more information about your current financial position to determine if you are eligible. What is your current credit score, debt-to-income ratio, the values of your other properties, etc. All of that information is possible.

Jan 27th 2014
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Dave Metsker (DaveMetsker)
#35 ranked lender in Oregon - 2,318 contributions

Some lenders will allow up to 10 investment properties.

Jan 27th 2014
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William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

It's possible, but more info would be needed.. you can have 100 investments properties, and FNMA guidelines allow up to 10 FINANCED properties, but lenders typically wont finance you on more than 4 with any one lender..The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Jan 27th 2014
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Sean Young (SeanYoung)
#1 ranked lender in Colorado - 1,112 contributions

Yes, it will just depend on if you qualify or not. Cash out on investment property has a reduced loan to value and a lower debt to income ratio. I would find a qualified loan officer in your area, fill out a loan application and review your options. Best wishes, Sean

Jan 27th 2014
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David Ortega (DavidOrtega)
#51 ranked lender in Minnesota - 231 contributions

Yes, Julian. It is possible as long as you qualify. We're a local broker in Minneapolis. Give me a call or shoot me an email so I can get some more information to send you quotes. We can start with just assumptions so we won't pull credit or anything. If you like what we have to offer, then we can move to a full approval. Here is our direct contact info: Satori Mortgage - www.satorimortgage.com - 952-544-1706 - info@satorimortgage.com

Jan 27th 2014
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Steven Brand (stevenbrand)
#2 ranked lender in Minnesota - 121 contributions

Yes.

Jan 27th 2014
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