Posted by Brice on July 10, 2002 at 15:32:44:
Try a LIBOR loan at your commercial bank. You’ll likely be in the 4.5% range (250 over the 30-day LIBOR)- 80-90% LTV, 20yr am with a 5 year call.
Need to refi multi-unit, NINA possible? - Posted by Kathy
Posted by Kathy on July 07, 2002 at 14:39:57:
Hi, I’ve been searching the archives but most of the talk about NINA loans seem to focus on SFHs. I need to know if this is possible: I want to refinance a 14 unit apartment for a lower interest rate (currently 10.5), and get some cash out.
I’ve had the bldg. 3 years, so there’s some appreciation. Credit rating over 700. Would prefer no-doc, low doc or stated income loans (as RE is my total income for the past year). In the past when I’ve posed this question I got few responses on the board but more e-mail spam than I could handle, so I’d like to hear from the pros, people who have actually done this kind of deal. Thanks.