Help with financing my real estate purchases
I own a rental property which is currently under a VA loan and I would like to refinance to a conventional loan to free up my VA loan to purchase my primary home. The property has around $200k in equity. Do I need to put down 20% to refinance from VA loan to conventional? My goal is to buy a primary home and use the cash as down payment to buy another investment property. Just wanted to explore creative ways to finance the purchases. by thomasj689 from Aliso Viejo, California. Jan 4th 2022
Bert Carpenter (BertCarpenter)
#37 ranked lender in Arizona - 2,431 contributions
Probably not going to need to put any additional cash down, depending on your situation. 20% equity is the typical threshold for avoiding mortgage insurance (PMI), but we have a unique program that eliminates PMI with just over 10%. I've got a VA to conventional refinance going right now and I'd love to help you determine the best option for you be able to buy your new residence. Give me a jingle and we can start the analysis process to help you identify all your options. Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Certified Mortgage Advisor and Certified by The National Association of Mortgage Professionals as a Certified Veterans Lending Specialist.Licensed in AZ, CA, GA, IL, MO, OR & WA... In fact, NEXA is licensed in all states except MA and NY so give us a call. ~ www.ApplyYes.com 480-889-9000 - OR - 480-695-9300
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