Is it possible to get a conventional refinance with a small cash out on a home with that no longer has a functioning heating system in L.A. County?

Alternatively, will all lenders refuse to refinance if the only way I could afford to install functioning heat is through the HERO program, which I know functions as a lien?
(0) | asked by: Ms. Phillips | share | 3 months ago | Report
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answer by Sheryl Arndt    |   Visit My Website   |   Contact Me
Hello Ms. Phillips, yes as it would not get called on a conventional appraisal. How much cash out? Your qualifications will be determined by your LTV, fico scores, etc., how much cash out and depending on the loan program choice. Sheryl Arndt, Real Estate Broker - Sr. Loan Officer CA only
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1 month ago  |   Report   |   share
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answer by ACCREDITED LENDERS   
Do you need a business or personal loan? accredited lenders is a household name that have stand the test of time, contact me via my profile for details on how to qualify for loan.
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2 months ago  |   Report   |   share
answer by Harjeet Bhatti    |   Visit My Website   |   Contact Me
Cash out won't be a good option,If you have lower interest rate. Compare the rates and see if makes sense to cash out. You can get HELOC also if there is equity in home. You can contact me through my profile.
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2 months ago  |   Report   |   share
answer by Karen Peyton    |   Visit My Website   |   Contact Me
You should speak with a lender and ask your question in conversation. If the only reason you seek cash out via a refinance is to repair or replace your heating system...there are easier ways which may prove less costly in the long run. Again, talk to a lender and explain your question in detail.
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3 months ago  |   Report   |   share
answer by Jon Polansky    |   Contact Me
This is an unusual question, Ms. Phillips. Have you called a reputable HVAC repair company to take a look at your unit?
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3 months ago  |   Report   |   share
answer by Connie Wildasinn - Broker    |   Contact Me
You'll need to check with your lender
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3 months ago  |   Report   |   share
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