Posted by DougO(NM) on December 04, 2000 at 17:56:45:
We are buying a bank repo- it’s a single section MH on a fee simple lot in a subdivision. We are paying cash and after some rehab and installation onto a permanent foundation, would like to do a re-finance and keep as a long term rental. It should appraise for about $70,000.
- What are typical lender requirements for length of ownership before a re-finance and pull our cash-out?
- What kinds of loans are available and what should I expect to pay for this money?
- Can I get 80% ltv?
- Does the rental income count towards the debt service?
Thanks for any input