I am about to refinance one of my 6 family units that i have had since 1992. What i would like to do is have a cash out refi for repairs on my units.
My credit score is 812
I owe only 60K on the building and it appraised for 340K
I have 8K in credit card debt but have 70K in credit card limits.
I have over 85K in bank accounts.
I make 95K a year between my wife and I.
Never missed a payment on anything in 20 years and no bankruptcy.
I know with the banking being very particular nowdays I was wondering if they would refi my building for 130K which would be about 40% LTV
I dont see this as a problem but before I pay 600 in underwriter fees I wanted to see what people thought first
Thank You!
