Cash-Out Refinance
In need of extra cash? Have untapped equity in an investment property? Look no further than our Cash-out Refinance Program. Our fast, easy, and reliable program can be used to extract cash from properties owned free and clear, or refinance an existing loan with added equity. These loans do not report on credit and thus do not affect the debt-to-income ratio. Utilizing our cash-out refinance program allows investors to receive the best possible leverage at the best possible rate.
Cash-Out Refinance Details
Property Value:
As-is value (or purchase price) greater than $100,000
Prepay Penalty:
5-year step-down (5-4-3-2-1); can be reduced to 2 years
Property Type:
Single Family and 2-4 Unit Multifamily
Minimum Liquidity:
Down payment, closing costs, 6-months mortgage pmts.
Credit Score (FICO):
Minimum 680, no serious delinquencies in past 2 years
Max Loan Ratios:
Up to 80% purchase or refi & 75% for cash-out refi
Location:
No rural. Not in AK, HI, NV, ND, SD, WY
Loan Term:
30 years