Refinancing Loans

Do you already have a loan on an investment property but would like better terms or need an extension that you lender won’t grant you? Our Refinancing Loans are designed to help you maximize profits when your project is complete.

Refinancing Loans

Do you already have a loan on an investment property but would like better terms or need an extension that you lender won’t grant you? Our Refinancing Loans are designed to help you maximize profits when your project is complete.

Market Responses To COVID-19 Have Required Us To Make Changes To Our Loan Offerings. The Info Below Has Been Updated To Reflect Our Most Up To Date Lending Metrics.

Market Responses To COVID-19 Have Required Us To Make Changes To Our Loan Offerings. The Info Below Has Been Updated To Reflect Our Most Up To Date Lending Metrics.

How Our Refinancing Loans Work For You:

 

  • Expect increased time to closing during this time (15+ business days)
  • Refinance projects up to $5 million
  • No prepayment penalties
  • A dedicated specialist for all your needs
  • Free, no-commitment loan underwritings

Get Your Free, No Obligation Loan Quote Today!

Refinancing Loan Contact Form (New)

Our Rates and Terms:

Interest Rates

Fix and Flip from 7.75%

Points at Closing

2 – 4 (percentage points)

Max Loan Amount

Up to 75% of the property’s As-Is Value

Plus the remaining Construction Costs

What Makes Working With Us Different:

Whether your current lender is under-performing, charging too much, or refuses to grant you an extension – we’re here to excel where they failed. Refinancing a project mid-completion can be complex, so you need a lender that understands every aspect of your business and treats your success like a trusted business partner should.

By partnering with us you’ll get funding to pay off your existing debt on the property (up to 75% of the As-Is Value) as well as funds to complete any remaining renovations needed. This means you can pay off your existing loan and part ways with that lender while working with us to bring the project to a successful completion and maximize your payday.

When you’re stuck in a loan with unnecessarily high interest rates or an unresponsive lender, every day can be increasingly painful. We’ve streamlined the process to secure Refinancing Loans using smarter technology so that you can stop stressing over bad rates or underperformance by your old lender. That means you can move forward with a superior loan without getting bogged down in a mountain of paperwork.

So if you’re looking for a lender that delivers on savings, service, and speed – let’s connect for a free, no-commitment phone consultation to get started. Just fill out the quick form below so we can get to work for you!

Get Your Free, No Obligation Loan Quote Today!

Refinance Loan Contact Form

Questions and Answers for Refinancing Loans:

Refinancing can be tricky, so here are some popular questions and our answers about the process behind Refinancing Loans:

What is a Refinancing Loan?

When you’re talking about traditional, owner-occupied mortgages, it is a way to get lower interest rates for a homeowner who has not yes paid off their mortgage.  For investors, it is a way to secure more time or more capital needed to complete your property rehab, or a lower interest rate than what the borrower is currently paying.  

How is this different than a Fix and Flip Loan?

Refinancing Loans are intended to be used to pay off an existing loan, while moving forward with a project under a new loan, typically with a different lender that offers better terms or service. They are not used to acquire an investment project and rehab it. Fix and Flip Loans are designed to fund both the acquisition and repair of a property. An easy way to think of it is that Fix and Flip Loans are used to complete a project, start to finish. If the borrower is unhappy with their lender for their Fix and Flip, they can seek a Refinancing Loan from another lender that offers better terms to pay off the Fix and Flip Loan and complete the remainder of the project.

​Can I refinance with bad credit?

Yes, you can get a refinancing loan with bad credit. Private hard money lenders like us look at everything from your previous investment history to equity and other risk factors. Credit is only one of the factors that paint the picture of a borrower’s loan-worthiness.

How quickly can I refinance a loan for an investment property?

These transactions can sometimes close in as little as 2 business days. This primarily depends on your situation with your current lender, the amount you need, what is currently paid off, and what the potential risk is. If you come prepared to take out the loan and provide all the information a lender needs to proceed, any reputable one should have an approval or decline in less than a week.

What are the pros and cons of Refinancing Loans?

The main pros of a refinancing loan are that they can save you money via lower interest rates, they may offer superior services like construction draws, or they can give you access to the extra funds or longer loan term that you need to correctly finish rehabbing your property.

The cons of a refinancing loan is that they are based on the As-Is Value of a property, meaning if you have fully demolished a property a seek a Refinancing Loan, the As-Is Value has dropped significantly. The first lender may have originated their loan using the total project costs or the After Repair Value, but until you reach the drywall stag eof construction, a new lender may not be able to offer you enough for it to make sense to refinance yet.

Can this be used to consolidate other debts?

Yes, in some cases, you can use Refinancing Loans to consolidate multiple debts on a property. For example, if you pieced together several lenders for a project, you may qualify to secure a single Refinancing Loan that will pay each off and allow you to complete the project with a single set of monthly interest payments, making your life much easier and manageable.