Investment Property Refinance – 80% LTV. gmakerley. Posted on: 16th Dec, 2008 09:26 am. I currently have an investment property that appraised in 2007 at $176K, which has a first and second totalling $150K against it. The financing is 30y fixed conventional, $126K @6.75% and $23K @9.92%.
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LTV is calculated by dividing the amount you owe on the property by the property’s value. If your mortgage balance is $150,000 on an investment property valued at $200,000, your LTV is 75%. If the lender only allows an 80% total ltv on a home equity line.
Our investment property loan program includes the following features: Financing up to 85% loan-to-value (LTV) for single-family home purchase of 75% LTV for 2-4 unit properties; Ability to finance up to 10 properties; As low as 620 FICO if you have 6 or fewer financed properties
Some conventional loan programs for investment properties allow for 80% LTV, although you should know going in that it’s a best-case scenario. You can also explore real estate crowdfunding websites, which tend to be more expensive than conventional loans, but may be more flexible.
Whether you’re already a successful real estate investor, or getting ready to buy your first investment property, be sure to speak with one of our experienced Loan Advisors to get the best mortgage options.
The Type of Investment Property You Buy Lenders will have different requirements to determine if a loan will be given with a certain LTV. For example, owner-occupied residences usually get loans with an LTV of 80%. But if a property is intended for investment, lenders might require higher LTVs.
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Getting A Loan For An Investment Property Some real estate experts say now is a good time to buy a home – Christian Tsukamoto and his wife Kaety are trying to find an investment property. They’ve been looking for. "Less than a year ago was 4.25 percent. My loan officer now say we can get a loan closer.
Note: Investment properties which are for business purposes.. Fannie Mae to Fannie Mae rate and term refinances up to 80% LTV may be.