Trying to refinance an investment property for $45k in cash out to pay off second mortgage and credit cards. Is it possible?

WE are able to do this and at great rates. Should not be a problem. Joyce Ettingoff 301 915 5644 speedlad@aol.com We are in convenient Maryland.

Hello Seth it can be done get it done right and fast here at HomePoint, We originate and service our own loans and provide exceptional service.Call me now at 240-759-8315 cell240-654-0942 ext 206Email- ballen@homepointmd.com

I think this is possible by paying off all these debts through closing, which will help get your debt ratio's down where they need to be. Marilyn and Seth have offered to assist you.

Much more info needed.. If you refinance, pay off the first and 2nd as well as credit cards, then after all those payments are eliminated and then you add the new mortgage payment, and after all that, you are still over the maximum allowable 45%, then yes.. you would not qualify.. but you did not give us any solid numbers.. so it's impossible to answer your question.. But if you are using a competent loan officer, and he has the full picture.. and he still says no, then you might want to get a 2nd opinion, but you need to provide ALL the information to get an accurate answer. 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

Hi Seth,You are ok on your loan to value with the property and taking the cash out if your appraisal is that high. The real question is what is your DTI? It did not mention that in your question. I understand you will be improving it by paying off debt. Rates are great right now and I am sure your second mortgage rate is a lot higher than you would pay by combining the two loans. If you would like to discuss this in further detail please give me a call or shoot me an email. My phone number is 301-922-1675 or email : cpcaprario1@gmail.com. I will be happy to see what options you have.

Hi Seth,You are fine with your loan to value on the property if it appraises that high. The real question would be what is your DTI? That was the problem with the other lender. You will be improving your DTI by consolidating debt and combining the two loans. Your second mortgage rate is probably a lot higher than your first. We would have to look at the whole picture and see what we can do. I would love to help you out and answer any questions you have. Please feel free to call me @ 301-922-1675 or email cpcaprario1@gmail.com. I am located in Columbia, MD near Baltimore.