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May 23, 2023
The maximum loan-to-value (LTV) ratio for a cash-out refinance depends on various factors, including the lender’s policies, the type of property being refinanced, and the borrower’s creditworthiness. Generally, lenders have their own guidelines and may impose different maximum LTV ratios. For investment residential properties, such as single-family homes, condominiums, or multi-unit properties with up to four units, the maximum LTV ratio for a cash-out refinance is often capped at 70% to 75%. This means you can typically borrow up to 70% to 75% of the appraised value of the property, subtracting any outstanding mortgage balance. However, for commercial properties, including multi-unit residential properties with more than four units and non-residential properties like office buildings or retail spaces, the maximum LTV ratio for a cash-out refinance tends to be lower. It can range from 65% to 75% in many cases. It’s […]
March 13, 2023
While it may be tempting to buy an investment property all-cash, especially in a hot seller’s market like the one we’re experiencing all across the U.S., as a real estate investor it’s typically best to secure a long-term mortgage. A long-term mortgage, of 15-, 20-, or even 30-years in length allows investors to take advantage of low-interest rates, and have a stable operating expense budget, that is not sent ratcheting up or down due to multiple loans and their accompanying interest rates. It’s not uncommon for a real estate investor’s application for an investment property mortgage to be rejected. While usually securing a mortgage for an investment property is much more streamlined and straightforward than securing a loan for an owner-occupied home, there are several factors that can cause your application to be rejected by a lender. This can happen […]
February 15, 2022
If you’re a real estate investor looking to grow your real estate rental or investment property portfolio, you may want to consider using the 1031 exchange program offered by the Internal Revenue Service (IRS). Typically, growth in the real estate sector is driven by investors that do the following: buy a property at a low price, hold onto it for a certain time period, to then resell the property at a higher price, using the proceeds to buy another property and repeat the entire process. It’s a cycle that has made entrepreneurs millions. And within the industry, the more cash you have on hand the more you’re able to borrow, and the better assets you can purchase. The only roadblock with most real estate transactions, at least where an investor or non-homeowner is involved, is the profit generated that is […]
February 7, 2022
Rather than buying apartment buildings, many real estate investors are focusing on acquiring multiple single-family homes and creating a portfolio. With the rising cost of single-family homes, the decrease in overall home inventory, and the increased requirements to qualify for a first-time homebuyer loan program homeownership has dropped, and more people are renting. Specifically, they’re opting to stay long-term in single-family homes in a semblance of achieving the American dream. However, as a real estate investor with a portfolio of single-family homes, you may be wondering how to refinance them. This can be a difficult process, but rest assured it is not impossible. In this article, we’ll outline the steps you need to take in order to refinance a portfolio of homes, as well as the benefits and potential risks. What is a Single-family Home Portfolio? Before jumping into how […]