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
Origination Fees-2-3 Points
Loan To Value-Up to 75%
Minimum Required Length-1 Month
Loan Type-Residential & Commercial
Loan Length-6 & 12 Months