Clark Investment Group based in Witchita, KS, received a .8 million refinance bridge loan. The refinancing was secured by three, new storage properties totaling 175,531 net rentable square feet..
Conventional fixed rate loans and jumbo loans can be used to refinance a primary residence, second or vacation home, or an investment property. Refinancing is also available for single family homes, condos, manufactured homes on owned land, and two-to-four unit multi-family properties. Read more about investment property refinancing.
Hidrock Properties has closed on a $32 million refinancing of its Manhattan office property at 35 W. 36 th St. HFF placed the three-year, floating-rate loan on behalf of. property sale to Penwood.
Lenders typically require a cushion of 25 percent or more to refinance a loan secured by a nonowner-occupied house, says Stephen LaDue, a senior loan officer at PrimeLending in Brookfield, Wisconsin. The reason: An owner who has a substantial stake in the property is less likely to default on the mortgage.
To take out a cash-out refinance on an investment property, you need an LTV of 75% for a one-unit property or 70% for two- to four-unit properties. A standard refinance on an investment property requires an LTV lower than 70%.
Investment mortgage interest rates currently range from 4.75% to 13%, depending on loan type and borrower qualifications. For shorter mortgages like hard money loans with terms up to 3 years, rates range from 7.5-13%.
San Rafael Cash Out Refinance Loan North Coast Financial provided funding of. Hard money investment property loan rates in California are likely to be lower.
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commenting on the big ticket office investment deals said “The favourable interest rate environment with potential Fed rate.
The HARP program has helped real estate investors s save money on 400,000 investment properties to date. There is no other program on the market that allows underwater rental property owners take advantage of recent low rates. Increase cash flow and save money each month with a HARP investment property refinance.
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