Posted on: 30th Oct, 2010 10:28 am
hello, i am a homeowner in ny. a 2 family, with equity, which i do not live in. i'm trying to refinance from an fha 7.5 to current rate (4.5 ish). credit union denied because i don't live there. i owe 43k current value 80-85k, good credit. i'm looking to put it on the market in the next 6m-yr. depending on climate. looking for some advice. thanks
Welcome ttallman,
You can speak to other lenders apart from your credit union and check out if they can help you in getting a mortgage for an investment property. As you do not live in the property, it will be considered as your investment property.
You can speak to other lenders apart from your credit union and check out if they can help you in getting a mortgage for an investment property. As you do not live in the property, it will be considered as your investment property.