Investment Property Refinancing

 

 

Once you have bought and rehabbed your property, the next step is to refinance your investment property. A lot of people have had difficulty finding refinancing in the present market, especially people seeking 30 year 80% LTV refinancing.

 

Working with a financial consultant that has access to banks and lending institutions with multiple options for refinancing under the LLC. No guarantee can be made that we can get you a Max ltv's or specified rates under the LLC programs. The programs available for refinancing your investment property under the LLC will depend on your credit score, current earnings and assets.

 

The mortgage broker should be using a closing company that understands LLC refinancing. The closing can be done right at your own kitchen table at your convenience!!

 

Putting together your checklist of documentation to be provided to qualify for refinancing. Once all the items on the checklist have been provided and your credit reviewed a loan officer can call you and discuss the programs and terms available for refinancing your investment property.

 

Unfortunately, the investment refinancing market has tightened up and there are more specificed LTV loans programs for properties with an appraisal/post rehab values under the LLC.

 

 

 
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6 Comments on Refinancing Under the Corporate Entity or LLC

I have many investors who have exactly this problem, Joseph.  What should I be telling them regarding getting a credit history together for their entity?  Is that important to their success in refinancing under the entity's name?

07/23/2008 06:45 AM by Steve Homer (The HBH Group (Keller Williams affiliate))


I would love to know the answer as well..

07/23/2008 03:18 PM by Raylene Lewis (Century 21 Beal, Inc.)


Joseph,  One of the biggest problems for LLCs is always financing.  Mike

07/23/2008 08:30 PM by Mike Miller (Howard Hanna Real Estate Services, Inc.)


Mike,

 

There are issues when the property is not evaluated property to fall under the criteria of a LLC refinance. The investor or realtor needs to educate themself on debt service ratio, seasoning requirements, etc. To properly pick the right now since it is a buyer's market.

 

Joseph V. Scorese

MAC Investment Company

joemacinvest@yahoo.com

http://activerain.com/action/referrals/joemacinvest

Toll Free - 877-263-4881

Office - 484-221-9277

Direct - 908-967-4064

Fax - 610-351-0903

07/24/2008 10:32 AM by


Steve,

 

The credit history is not as important as the credit worthiness of the member or members of the entity seeking the refinance under the llc. The entity's score comes into play ecspecially when a investor is looking for a non-recourse loan which feeds off the credit worthiness of the entity.

 

Joseph V. Scorese

MAC Investment Company

joemacinvest@yahoo.com

http://activerain.com/action/referrals/joemacinvest

Toll Free - 877-263-4881

Office - 484-221-9277

Direct - 908-967-4064

Fax - 610-351-0903

07/24/2008 10:35 AM by


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Loan Officer: Joseph Scorese (MAC Investment Company, LLC.)
Joseph Scorese
Allentown, PA
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MAC Investment Company, LLC.

Office Phone: (484) 221-9277
Cell Phone: (908) 967-4064
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