Do you know of any banks making 80% LTV refinance mortgages with cash out? Most of the Internet mortgage companies will only go to 75%.
The limit is actually 85% for FHA and Conventional (Fannie Mae). Although with Fannie Mae, you'll have to take into consideration having possible mortgage insurance as the Loan To Value would be over 80%. This does assume the property is an Owner Occupied Property as Investment Properties due tend to max out at 75%. I do have the option to go to 80% for a Single Family Investment Property though!
Feel free to email me directly or give me a call with any future questions. I'm happy to help with No Obligations going forward! Have a great night!
Pricing is better on cash out refinances at 75% loan to value compared with 80%, but if you need that last 5%, can certainly do an 80% cash out. If you're still looking for options, I lend in all states.
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