Cash Out Refinance Loans
Cash out refinance loans are one of the many types of hard money loans offered by GoKapital, a top hard money lender based in Miami, Florida. With many years of experience in hard money lending, GoKapital is the trusted and reliable partner hard money borrowers turn to for their hard money cash out refinancing needs. Contact GoKapital now and get your cash out refinance loan funded fast.
Cash Out Refinance Rules | Loan Program
|Loan Application Approval Timeline||Same day approval available|
|Time to Fund Loan||Closing in 2-4 weeks|
|Property Types||All Property Types Eligible (Single family, commercial, retail, land, condo)|
|Loan Amounts||$150,000 – $50 Million+|
|Loan Terms||6 to 36 months with longer terms available|
|Lien Position||1st Only|
|Loan to Value (LTV)||60% to 80% of market value (or Purchase Price - the lower of the 2)|
|Cash Out Refinance Interest Rates and Points||Please contact us for information on current rates and points|
A cash out refinance loan can be a great option for a real estate investor looking to take equity from an existing property and reinvest it by purchasing another property. Cash out refinancing with hard money is the easy way to quickly raise funds and acquire a new investment property. A hard money refinance loan can be approved and funded in as few as 5-10 days.
In some cases, a borrower will first utilize a cash out refinance loan to pull out equity from an existing investment property and then take out a hard money purchase loan to acquire the new investment property.
GoKapital.Mortgage has the ability and resources to quickly fund multiple loan requests and ensure their borrower’s financing needs can be met.
Refinance Investment Property & Rental Property Loans
Real estate investors refinance investment property and rental property for various reasons including pulling out equity to invest in a new opportunity, refinancing to a lower interest rate, or paying off a previous loan that will soon become due. Refinancing investment property is a straightforward process that requires just a 1003 loan application for initial approval.
Refinance Interest Rates
Hard money refinance interest rates are generally consistent with interest rates of other hard money loans, depending on the specifics of the loan scenario. Cash out refinance rates from hard money lenders are higher than rates from conventional lenders such as banks or credit unions since the perceived risk is higher. Although, the interest rates are higher, the convenience, speed of approval and funding and increase in likelihood that the loan will be approved in first place are worth the added financing cost for many real estate investors.