Forgotten Your Password?

Need to Register?

Question Icon

I rented my condo in OH for a year. It's no longer my primary home. Will the lender want payment in full if I try to refinance?

by stephenlawson513480 from , Indiana. Jul 12th 2014 Reply


Steven Ceceri (123LoanYes)
#12 ranked lender in Rhode Island - 723 contributions

Hi Stephen! If you refinance, you will have to do so noting your property is now Investment Property (Non Owner Occupied) as they will also see this when you provide your Tax Return to them. Your Loan to Value will be reduced over an Owner Occupied Loan and your Rate offered will be higher, but other than that, you should not have any issues if you meet the lending guidelines and your property appraises for an adequate amount. Good Luck!

Jul 12th 2014
0
0
Subscribe to our news feed.