Will I have a problem with any lenders who will refi my house while it is listed on the MLS?? I spoke to one lender and he says there is a 6 month wait period, is this true??
So you are saying that theres a chance I can find a lender who will refi right away even though my property is vacant and listed on MLS??? My credit is excellent.
Actually they do like to see leases, at least for commercial/multi family property. They want to know that it really is rented if they are including it in your income for your DTI , and it is reasonable to expect that leases will generally be honored.
I have three investment SFR on a HELOC. National City and Chase both will do them without any seasoning. (at least they did over the past year). It is a full doc. program. They had both HELOC and a fixed home Eq. Hope this helps.
Hi tess
Were you able to get more than 75% on the HEL on an investemnt property?
Do you know of anybody that goes up to 90% with no Doc?
I posted this question on this site but for some reason it was not shown. I wonder why.
Thanks,
now is this heloc based on the purchase price or the appraisal value? I know a lot of lenders will be ok doing it based on purchase price but not on appraisal value.
So you are saying that theres a chance I can find a lender who will refi right away even though my property is vacant and listed on MLS??? My credit is excellent.
Actually they do like to see leases, at least for commercial/multi family property. They want to know that it really is rented if they are including it in your income for your DTI , and it is reasonable to expect that leases will generally be honored.
Chris
I have three investment SFR on a HELOC. National City and Chase both will do them without any seasoning. (at least they did over the past year). It is a full doc. program. They had both HELOC and a fixed home Eq. Hope this helps.
Hi tess
Were you able to get more than 75% on the HEL on an investemnt property?
Do you know of anybody that goes up to 90% with no Doc?
I posted this question on this site but for some reason it was not shown. I wonder why.
Thanks,
National City will do a 90% HELOC. All depends on credit. They are quick. I have had them done in less than two weeks, money in hand. Hope this helps!
Most will go up tp 75%. I wonder if anybody goes up to 90% and NO Doc.
now is this heloc based on the purchase price or the appraisal value? I know a lot of lenders will be ok doing it based on purchase price but not on appraisal value.
would the property need to be seasoned to get a heloc on non primary residence? teach