CASH OUT REFINANCE

WHAT IS A CASH OUT REFINANCE LOAN?

          A cash out refinance is used by an investor who wants to take advantage of the equity in a property. In a cash out refinance there is a current loan in place that needs to be refinanced, typically with better terms. The increase in equity that was gained during the renovation, construction or rehab is pulled out in the form of cash and reinvested into the investor's next project.

 

WHO USES CASH OUT REFINANCE LOANS?

  • Investors and developers who want to use the equity in one project to fund their next project.

CASH OUT REFINANCE TERMS

Interest-7.99-12%

Origination Fees-2-3 Points

Loan To Value-Up to 75%

Lien Position-1st

Amount-$50,000-$1MM

Locations-Texas

Minimum Required Length-1 Month

Application Fee-$0

Prepayment Penalty-N/A

Loan Type-Residential & Commercial

Loan Length-6 & 12 Months

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