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Posted on 12/27/20 at 8:53 am to thatthang
the 30 year still impresses me. I have Low 4%, 20% down, and all on 20 year loans. I could not find anyone to do 30 year.
Posted on 12/28/20 at 8:40 am to bgbam07
If you are in Louisiana, and I guessed a credit score of 760, your rate is 3.5% for a monthly P&I payment of $1078.
Posted on 12/28/20 at 8:42 am to WildBillJR
I work for an independent mortgage banker and can give you rates if you give me more of the scenario
Posted on 12/28/20 at 10:16 am to WeAreBR
The properties are owned by an LLC and have never been owner occupied. My experience has been that mortgage brokers don’t typically make loans in this situation but if you do I would love to talk to you. Looking to borrow about 800k at about 70% LTV with amortization anywhere from 15 to 30 years depending on how that affects rate.
Posted on 12/28/20 at 1:09 pm to WildBillJR
Where is this property located? We have a program for FL and GA only if you are looking at closing in the name of the LLC.
Posted on 12/31/20 at 4:21 pm to WildBillJR
I looked into this more...
The is the seasoning requirement for a cash out refinance when it is currently in the name of the business (LLC)?
6 months from title transfer. However, FANNIE MAE (DU) ONLY:If the property was owned prior to closing by a limited liability corporation (LLC) that is majority-owned or controlled by the borrower(s), the time it was held by the LLC may be counted towards meeting the borrower's 6 month ownership requirement. (In order to close the refinance transaction, ownership must be transferred out of the LLC and into the name of the individual borrower(s).
Let me know if you would like to discuss further
The is the seasoning requirement for a cash out refinance when it is currently in the name of the business (LLC)?
6 months from title transfer. However, FANNIE MAE (DU) ONLY:If the property was owned prior to closing by a limited liability corporation (LLC) that is majority-owned or controlled by the borrower(s), the time it was held by the LLC may be counted towards meeting the borrower's 6 month ownership requirement. (In order to close the refinance transaction, ownership must be transferred out of the LLC and into the name of the individual borrower(s).
Let me know if you would like to discuss further
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