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Which mortgage companies are offering decent rates FOR RENTAL PROPERTIES, w/LOW FEES?
Have 733 score, NO foreclosue and NO bankruptcy, decent debt/income ratio of 47% and 2 rental HELOC at 6.5%. Both my RENTALS have 34% equity. Want to REFI to lower rates, prefer under 5.8% with less than $2000 in fees. RENTAL REFI market - the pendulum has swung too far with only few handful of companies offering refis over 6.5% and that too with $3000 plus in fees. ANy suggestions welcome. Thanks
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JAIHANUMAN2001
1 year ago
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Rental properties are a high risk for the banks. Do not expect low rates and good terms. Sell one and pay off the loans on the other. Go to a cash based business (no debt !)
KeesdeWit 1 year ago