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Cash Out Refi to 80% LTV?

Started by brooksvale
over 13 years ago
Posts: 56
Member since: Jun 2009
Discussion about
Anyone know if this type of financing has made it back?
Response by LENOXav
over 13 years ago
Posts: 150
Member since: May 2010

This 'type' of Financing never 'left!'
The Major Banks pull in all sorts of Origination Fees via Refinancings; which also drive Business for a host of related 'Professionals!"

It's your Cooperative Board, or Condo Board of Managers, who might have some additional sayso regarding the specific Max LTV Ratio allowed for your Coop/Condo. [You DO need 'em to sign off on a Document or two to complete the Transaction!]

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Response by brooksvale
over 13 years ago
Posts: 56
Member since: Jun 2009

Ha - it seems like no one will go above 75 ltv which was why i was asking. Assuming the building only requires 80%.. i dont think there should be a problem..... right?

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Response by LENOXav
over 13 years ago
Posts: 150
Member since: May 2010

80% is a standard LTV. Check with Citi Mortgage . . .

Make certain that ALL aspects of the Appraisal is Correct.
"Comparables'' need to be true "COMPARABLES!"

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