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Residential Investment Property Financing
Posted on 10/16/15 at 10:33 am
Posted on 10/16/15 at 10:33 am
Anyone recently finance an investment property? What terms can I expect? Any suggestions on financial institutions that may be favorable over others?
Trying to refinance into an LLC a previous primary residence (duplex) turned rental property. Should be about 65% LTV.
From previous research, I'm expecting a 5%, 20 yr amort, 3-5 yr balloon or interest rate adjustment.
I'm in the New Orleans area
Trying to refinance into an LLC a previous primary residence (duplex) turned rental property. Should be about 65% LTV.
From previous research, I'm expecting a 5%, 20 yr amort, 3-5 yr balloon or interest rate adjustment.
I'm in the New Orleans area
1
Posted on 10/16/15 at 10:58 am to bbatta11
I refinanced mine with NOLA lending earlier this year. I think the rate was right under 4% for 30 years. (Not keeping this property forever). Cut my mortgage by 300 a month.
The person I dealt with was Ann Matassa, however she is based in BR.
Is that your only property? Just wondering why you went the route of having an LLC.
The person I dealt with was Ann Matassa, however she is based in BR.
Is that your only property? Just wondering why you went the route of having an LLC.
This post was edited on 10/16/15 at 10:59 am
Posted on 10/16/15 at 11:36 am to TigerRob20
Thanks for the info!!
I set up and LLC back in '08 when I first started investing and it's just kind of been inactive. I own other properties under individual LLCs but nothing under this one which is why I want to own this one duplex through the LLC. It provides a level of asset protection but I still carry a significant amount of liability insurance.
I set up and LLC back in '08 when I first started investing and it's just kind of been inactive. I own other properties under individual LLCs but nothing under this one which is why I want to own this one duplex through the LLC. It provides a level of asset protection but I still carry a significant amount of liability insurance.
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