I have a new program that allows you to purchase or refinance 1 to 4 unit rental properties with rates starting at 6.5%. This allows a purchase or refinance up to 80% ltv, cash out refinances up to 70% ltv.
The minimum as-is appraised value is $150k
Loan amounts $125k up to $2 Million
Minimum credit score 660
30 yr fixed rate or 5/1 ARM
Must be able to show 10 months reserves
This is a good program to either purchase or refinance a rental property. The loan is available in 32 states. Closings in 4 to 5 weeks. Just message me with your phone number or email so we can talk details. This is a lender I have brokered to several times for bridge loans but they just rolled out this program for rental property last week.