Refinance with cash-out; If I have home which is fully paid for. If I want to use the equity in the house. What is the max % that I could take out ?

Asked by JD Shaw, Ashburn, VA Fri Jan 11, 2013

This is an investment condo and it is fully paid for ; Condo has 52% of 2nd homes ( investors not reported ) ; Can I cash out ? If so, what is the max % that I could ?

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Julie Gray-R…, Agent, Reston, VA
Sat Jan 12, 2013
I assume you plan to purchase another property when you cash out? Since this is an investment property and is fully paid that is for you can take out as much as you wish. The condominium association isn't have any say on your decision.

You can look at your position the same as a situation wherein you bought the property for cash. No mortgage, no lender, no approval required by a financial institution or the condo association finance committee.

The decision is yours to make and act upon.

Please contact me if you are looking for an experienced agent to manage the rental of your property and/or to help you locate another investment property.

Regards,

Julie Gray-Roller
Long and Foster Realtors
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