raising money for invest

Answer #1

You will get the lowest rate and the least hassle from a cash out refinance of your primary home. Selling it though in about a year you may not wish to do this. If it’s listed already that is a problem just so you know about that. Refinancing and pulling cash out may make your second lender unhappy also. Let me be clear, they may not allow you to do this and they have the power to stop you.
The other homes are possible to do but the loan banks like least is a cash out on an investment property. You’ll get less cash and have a higher rate. I hope this was helpful to you and please feel free to contact me at the below numbers to explore the best option for you in greater depth.


Brent Mendelson
Senior Loan Officer
1ST Mariner Mortgage
Lending in all 50 states

Answers Answered By: Brent Mendelson Level Rating133points
Answer #2

Your best bet is to refinance the $700k home and take out as much as 60% of the equity for the money you’ll need for your investment opportunity. We don’t have higher rates for a transaction like this as long as you have a 720 FICO score. Unlike most lenders our rate is the same regardless of occupancy type, property type or transaction type (ie. rate and term refinance or cash out).

If this investment opportunity is real estate we may be able to provide financing for that as well.

Please let me know if you would like to talk further.

Skip Kittleson
TD Bank
NMLS# 658891
o. 301-801-6709
c. 301-252-7924

Answers Answered By: Skip Kittleson Level Ratingpoints
Answer #3


Curious does TD bank not sell to Fannie and Freddie? You portfolio all your loans? What you are saying is that you offer the same rate on a rate and term conforming loan and the same on an investment property condo, cash out? Conventional loans of course not FHA/VA unless you have found a way around the goverment rules. Curious how TD would offer a product that as far as I can tell, no other lender in America has. Again unless it’s all portfolio money. Let me know if I was reading your email as it’s intended.


Answers Answered By: Brent Mendelson Level Rating133points
Answer #4


You read the post correctly. We portfolio everything, even FHA and VA loans. That is correct, our rate is the same regardless of transaction type. We don’t have pricing overlays from Fannie/Freddie or other investors. We price everything the same as long as it fits into our guidelines, which are fairly liberal. We follow Fannie/Freddie/VA/FHA guidelines, but not to a tee. For instance, we’ll do a 2-4 unit mixed use property, and I don’t know any “mortgage lender” that will do that. We don’t require reserves on any of our products either.

Our rates are very competitive especially in the jumbo arena.


Answers Answered By: Skip Kittleson Level Ratingpoints

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