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Refinancing an investment property

I am looking for refinancing on my investment property at Plano, TX. Property value = 155K. Loan value = 130K. Willing to make it LTV = 0.75. please give me quotes for 15 year and 30 year fixed loan terms. by Abhinav Agarwal from Plano, Texas. Jan 9th 2013 Reply


William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions

You have not provided nearly enough info to quote, and there isn't a professional loan officer on the planet that will throw out a quote to some inquiring on an internet blog.. You really doing yourself an injustice and setting yourself up for disappointment by going about it this way.. if you want an accurate, honest quote, you going to have to do it the old fashioned way.. Pick up the phone and actually talk to someone about your scenario.. The best advice I can give you is to contact a LOCAL mortgage broker and apply with them. Do not use the local "Big" bank, or one of those 50 states internet lenders or nationwide lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Jan 10th 2013
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Steven Ceceri (123LoanYes)
#12 ranked lender in Rhode Island - 723 contributions

Rate quotes that are accurate are not provided to consumers without more details, including property type (2-4 unit), credit score, debt to income ratio, etc. Your scenario of the LTV meets most investor guidelines but the other factors must be disclosed to prepare a quote. Happy to help if you'd like. Thank you.

Jan 10th 2013
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Joe Metzler (JoeMetzler)
#17 ranked lender in Minnesota - 4,848 contributions

Your inquiry doesn't give a lender enough information to make any sort of real quote. Contact a local non-bank lender, give them a full application so they can give you an accurate quote.

Jan 10th 2013
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Melvin List (melvinlist)
#143 ranked lender in Florida - 124 contributions

Please contact a local professional in your area and give the information they need to give you an accurate quote. I only lend in Florida!

Jan 10th 2013
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Michelle Curtis Loan Originator NMLS 401173 (MichelleCurtisLO)
#77 ranked lender in Florida - 2,245 contributions

It is very difficult to give pricing without additional factors such as, credit score and debt to income ratio. You should reach out to a couple of mortgage pro's on hear and speak with them directly. Get your quotes, but more importantly get a feel for your mortgage pro, go with your instincts and choose a mortgage pro that you feel will have your interests at heart as well as good pricing.

Jan 10th 2013
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

The best thing you can do for yourself would be to contact a local loan officer. The info you provided is hardly enough to provide you with an accurate quote. Anyone who gives you a quote without the other impacting factors is misleading you.

Jan 10th 2013
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Linda Miller (Linda Miller)
#2 ranked lender in Utah - 572 contributions

I agree with William "there isn't a professional loan officer on the planet" that would give you a quote on the limit info provided. There are so many factors involved, debt to income, credit score, etc. Call one of the Lender 411 mortgage professionals in your area, they can talk to you about your specific situation. Good Luck!

Jan 10th 2013
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