Financing in Indianapolis>Question Details

Ads_2002, Home Owner in Indianapolis, IN

Are there any local lenders that will refinance investment property at >80% LTV?

Asked by Ads_2002, Indianapolis, IN Tue Apr 5, 2011

I have a duplex just north of the Greenwood Park Mall that I have owned for nearly 7 years. I have 2 mortgages that I would like to refinance into a single loan. Any local lenders that will refinance investment property at greater than a 80% LTV with no cash out? Our credit scores are very good (>750). Thank you.

Help the community by answering this question:

Answers

1
The max LTV on an investment property is 80 % due to the fact that MI (Mortgage Insurance) is unavailable for investment properties. Currently you will find most lenders limit the loan to an LTV of 75% on an investment property rate and term refinance and cash out loans. You should check with local community or regional banks and credit unions for one that hold their loans as portfolio products. They may have the ability to provide an 80% LTV. Good Luck
1 vote Thank Flag Link Tue Apr 5, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer