I bought a vacation home in Lake Tahoe a year ago. Can I refinance if I am renting it out?

Rental property generally qualifies for a cash-out loan up to 75% of the appraisal value.

Hi Phil! You should be able to refinance this property as a 2nd Home if you occupy it during the year for your own use! If it is a year round rental, it would be considered Investment. We can offer options for either scenario and I'd be happy to look over your details more offline with no obligation. I'm happy to help if you would like my assistance. Thank you!

Hi Phil,Yes, you sure can. I'd have to see the big picture to know all of your options.Please call me at 916-623-4590.Chris CarterEQ Loans

Is it rented out permanently, or do you occasionally used it as a vacation home? Either way it can be refinanced but there's a significant difference in the loan structuring, interest rate, and loan cost of a vacation home versus a rental property. Give me a call 16/7, or email me your phone number so I can call you, and I'll be happy to walk you through the process. To learn more about me and our mortgage brokerage, click on my picture. When the next page pops up, click on "Website" and you will be redirected to ours. We work exclusively in CA and get loans done fast, typically in less than 30 days, at low interest rates and costs. Representing 40+ quality lenders that offer more than 1,000 loan programs, we definitely have something for everybody.

Yes... Not a problem, but now that you are renting it out, it will have to be a rental property loan. Interest rates are a little higher...

Yes.

yes - max loan is 75% of the value of the house. Cash out is ok too... Fremont Bank lends in CA and NV and we can get the loan done inside of 30 days!

Blake gave a good synopsis of the situation. You could also contact my sister office in San Francisco at 415-820-4548, and they would be happy to discuss your specific situation in more detail. We also are able to close most loans in 30 days.