How much equity is needed to refinance a 4-plex that I own as a rental property?

Hi Quang. For a loan amount up to 625K you'll need 25% equity if it's a rate and term refi. Cashout or rate and term up to 417K you'll need 25%. No cashout over 417K loan amount.

If you live in one of the units, then 10% equity is all that is required, but if you do not, then the maximum loan to value is 75%. Try contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and 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 NMLS# 226347

I concur with William Acres, that you would be most benefited by consulting with an experience Mortgage Broker/Banker in CA but I suspect you got the answer you were looking for from both Jennifer Wiesner and William Acres.

We can do up to $417,000 rate and term up to 80%+ in some cases and 75% in other cases, depending on the file itself, email me back or call me at 408-892-3523 for more information. Thanks