Cash-out refinancing permits homeowners to draw into the equity they have in their home. Reasons for refinancing can vary. However, emergencies, paying college tuition, home renovation projects, stock-market investments, eradicating other debts and buying luxury items are among the top motivational factors why homeowners refinance.
In particular, hard money refinancing can help a borrower cash-out a portion of their equity to pay off high interest debts (even regarding foreclosure), or even reduce their current interest rate on their current hard money loan. Lenders who deal with hard money generally possess a stronger preference for refinance loans more than purchase loans. The vital component is the borrower’s equity, not their credit.
Borrowers essentially refinance their current mortgage for a greater amount than their initial mortgage. The cash comes from the difference of the original loan and the cash-out refinance loan.
There are several benefits of hard money funding. Initially, these loans typically close faster than other financial assistance avenues, as some are closed in only a matter of days. Credit history, income verification and documentation of assets are rarely required.
Specific to Florida, hard money can have higher interest rates than other loan possibilities around the Sunshine State. Interest rates are based on a borrower’s risk level and loan. Also, other costs and fees can be applied.
AHL Hard Money Network-Marketing is allied with a vast assortment of hard-money knowledgeable investors in Florida. These providers typically utilize hard money loans to help homeowners in their quest to obtain cash-out refinancing. Working with our investors can even help homeowners expedite the process of attempting to refinance into a conventional loan program.
We thoroughly understand the hard money industry, and strive to provide each client with outstanding service. Our versatility allows us to serve a diverse list of areas such as:
• West Palm Beach
• And many more!
AHL Hard Money Network-Marketing prides itself of responding to all inquiries quickly. Please call us at (813) 516-5210 or email us at HardMoneyNetworkk@gmail.com.