How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Lane Your Own Question

Lane
Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4003
Experience:  Providing Financial, Tax & Business advice since 1986
1929974
Type Your Finance Question Here...
Lane is online now
A new question is answered every 9 seconds

I HAVE A HOME THAT I NOW RENT ... WHERE COULD I GET IT REFINANCED

Resolved Question:

I HAVE A HOME THAT I NOW RENT ... WHERE COULD I GET IT REFINANCED ? MY REGULAR LENDER WON'T DUE TO IT BEING A RENTAL ..
Submitted: 1 year ago.
Category: Finance
Expert:  Lane replied 1 year ago.

NPVAdvisor :

Some lenders might be a bit flexible about credit scores, income and cash reserves, but a 75 percent maximum loan-to-value ratio is usually a hard and fast rule for rentals, because an owner who doesn't live in the property is more likely to "walk away," than someone re-financing a primary residence ... I am in Atlanta (in Atlanta, I can't see to get better than about 5% in the last couple of years. Wells Fargo IS offering HELOC's on NOO properties currently, 65% max CLTV) ... I DID find this (looks fairly recent, March 2013): http://www.mercurynews.com/real-estate/ci_22894853/real-estate-watch-how-refinance-house-you-are

NPVAdvisor :

Found this from Lend Go Investment Property Refi : https://www.lendgo.com/lag/mortgage/gt/14/?PHPSESSID=re0oocekv83f29vnqpcbf9p342

NPVAdvisor :

Also saw on a RE blog that a good place to start can be entering your scenario in Zillow Market Place: http://www.zillow.com/mortgage-rates/

NPVAdvisor :

I still don't see you coming into the chat here ... be glad to go further with you, if you want to provide some detail ... but if you have enough equity, I think your most efficient route is to go to the search engines and start with a large sample and then start talking to the ones that fit the bill for you

NPVAdvisor :

One other thought is to go to your local credit union, local community bank or some other org where you can leverage your relationship (sit down with them face to face) ... sometimes tese folke will be more flexible, expecially when they know the specific market OR if you can tie other business relationships to them

NPVAdvisor :

... still don't see you coming in ... I'll move us to the "Question and Answer" mode ... Maybe that will help (WE CAN STILL CONTINUE A DIALOGUE THERE, jst not in real-time chat, as we can here) ... Let me know

NPVAdvisor :

Agaon, let me know if you want to talk further on this

NPVAdvisor :

Ahhh there you are ... I'll wait

Customer:

SORRY ... I'M AT WORK AND TRYING TO REVIEW THIS AT SAME TIME

NPVAdvisor :

sOK .. let me go ahead and move us to "Q&A" that way we'll have more time to go back and forth, just reply when you get a chance

Lane, JD, CFP, MBA, CRPS
Category: Finance
Satisfied Customers: 4003
Experience: Providing Financial, Tax & Business advice since 1986
Lane and 3 other Finance Specialists are ready to help you
Expert:  Lane replied 1 year ago.

Hi Jim,

 

Just reply here when you're ready

 

Lane

 

Customer: replied 1 year ago.

GREAT INFO .. I APPRECIATE IT ... MY BRO-IN-LAW IS A BRANCH MANAGER FOR A MORTGAGE BANK, BUT WON'T TOUCH ME DUE TO IT BEING A RENTAL. THAT AND HE'S SOMEWHAT OF A TOOL AS WELL ... I'LL REVIEW YOUR INFO WHEN I CAN ... THANKS AGAIN AND HAVE A NICE DAY

Expert:  Lane replied 1 year ago.


Thanks much!

Let me know if I can help further

Lane

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Last | Next >
  • I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
  • I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
  • Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
  • Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA
 
 
 

Meet The Experts:

 
 
 
  • Rakhi Vasavada

    Financial and Legal Consultant

    Satisfied Customers:

    2073
    Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
< Last | Next >
  • http://ww2.justanswer.com/uploads/RA/rakhi.v/2012-7-3_14374_RakhiVasavadaL.64x64.jpeg Rakhi Vasavada's Avatar

    Rakhi Vasavada

    Financial and Legal Consultant

    Satisfied Customers:

    2073
    Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
  • http://ww2.justanswer.com/uploads/BU/BusinessTutor/2012-2-2_115741_Kouki2.64x64.jpg Manal Elkhoshkhany's Avatar

    Manal Elkhoshkhany

    Tutor

    Satisfied Customers:

    1890
    More than 5000 online tutoring sessions.
  • http://ww2.justanswer.com/uploads/MY/MyVirtualCPA/2012-7-5_44024_cookmegan1.64x64.jpg Megan C's Avatar

    Megan C

    Certified Public Accountant (CPA)

    Satisfied Customers:

    1755
    Licensed CPA, CFE, CMA who teaches accounting courses at Master's Level
  • http://ww2.justanswer.com/uploads/JK/jkcpa/2011-1-16_182614_jkcpa.64x64.jpg JKCPA's Avatar

    JKCPA

    CPA

    Satisfied Customers:

    838
    Bachelors degree and CPA with Accounting experience.
  • http://ww2.justanswer.com/uploads/starside8/2010-2-16_55433_DSCN1175.JPG Eric's Avatar

    Eric

    Financial Manager

    Satisfied Customers:

    558
    Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.
  • http://ww2.justanswer.com/uploads/FA/fastfile/2011-12-15_23139_Klein2011small.64x64.jpg R. Klein, EA's Avatar

    R. Klein, EA

    Accountant

    Satisfied Customers:

    397
    Intuit Ask a Tax Expert. QuickBooks Certified Pro Advisor (all editions)
  • http://ww2.justanswer.com/uploads/dkaplun/2009-05-17_173121_headshot_1_2.jpg Dimitry K., Esq.'s Avatar

    Dimitry K., Esq.

    Attorney

    Satisfied Customers:

    324
    NASD Licensed Rep, 1997-2001, Business Attorney