I'm moving into our newly constructed home next week, and will be in a position to refinance as of then also. I am currently with a large credit union on a 2.49% construction loan IO for now, which will revert to P&I for about 600k.
I've contacted a few of the banks, namely the greater, Newcastle perm, bank, tictoc to name a few, and they all have a $100k limit on cash-out refinance? Does anyone know of banks who will lend more, if I can prove the cash out is to cover costs associated with the house (driveway, shed, fencing, landscaping etc..) This has all been paid for with my savings and I was hoping to refinance and get that money back to leave in an offset. Any thoughts would be great, thanks.