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Old 11-19-2014, 01:33 AM
 
1 posts, read 491 times
Reputation: 10

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I attempted getting a cash out refinance through Wyndham. It fell through because of a problem in the title of the property saying it was a single family home but a portion of it was rented out. I was applying that it was an investment property not owner occupied so I didn't think it would matter. I was told to move on that they would need an appraisal but no guarantee they could resolve the single family matter until the appraisal. I backed out because I didnt want to lose the money for the appraisal fee. I politely said no thanks and after that there was no more contact. Literally ...I thought is was very unprofessional of the agent not to respond at all. Really not worth pursuing anymore for her so not even worth her time to send one more email or make one more phone call. I wouldn't recommend this bank based on my experience. Not for the fact I was turned down but more for the fact on the service and ethics.
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Old 11-19-2014, 12:28 PM
 
165 posts, read 357,186 times
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I don't know of a loan transaction when taking cash out that the lender does not force an appraisal.

Owner occupied/investment/2nd home is considered house status

Single Family / Multi Family / Condo ect are types of homes.

So yes, you can have a single family home rented.
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Old 11-19-2014, 08:16 PM
 
2,778 posts, read 5,167,323 times
Reputation: 3678
Excellent experience here!
They came to us as one of the option by using the Costco Finance website: https://costcofinance.com/
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