Finally, there are once again very competitive loan programs allowing cash out on rental properties. Our standard 30 yr. fixed program now permits a cash-out loan on up to 80% of the property's value. As you probably know, most cash out loan programs on rental or income properties did not exist for quite some time. The programs that did allow it had big restrictions. When the credit market tightened up, this was one of the first guidelines to change, across the board.
The good news is that getting a new rental property loan today for the purchase, refinance or cash out is almost as easy as it was before the meltdown. Recently revised guidelines and credit requirements are once again reasonable. New programs allow higher loan-to-values, lower credit scores and are more generous with debt-to-income ratios.
Getting cash out of your residential (1-4 unit) rental property is simple. To find out how much cash you can get and what the terms will be, click here.
Posted by: Brian Bush
Brian and his team have been funding investment property loans for over 23 years. Since 1991, they have funded over 1 Billion Dollars in loans.
You can reach Brian at 800-607-1941 x220 or bbush@slglends.com .
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