Cash Out & Hard Money Refinance Loans

Hard Money Cash Out Refinance Loans Nationwide  

Wave Private Money is a direct, hard money cash-out refinance broker providing cash-out and hard money refinance loans to real estate investors and property owners throughout the United States. With over 20 years of challenging money lending experience, Wave Private Money is the trusted and reliable private money broker for hard money cash-out refinance loans.

Wave Private Money can provide various hard money refinance loans, from a cash-out refinance on investment property to a hard money refinance for an owner-occupied primary residence. Loan approvals and funding are completed quickly. Private lender cash-out refinance loans on rental or other investment property can be funded within days. A borrower can refinance hard money loans on owner-occupied property in approximately 2.5 weeks. Contact Wave Private Money now and have your cash-out refinance loan funded fast.

Cash Out Refinance for Investment Property & Rental Property

Hard money cash-out refinance loans are a fast and easy option for real estate investors looking to take equity from an existing investment property to reinvest the funds elsewhere. Private lender cash out refinance loans on investment property can provide real estate investors with liquid funds within days. They can then use it to purchase new investment property quickly.

Private Lender Cash Out Refinance Loans on Investment Property & Rental Property

Many real estate investors find themselves sitting on large amounts of equity in their investment and rental properties after many years of a hot real estate market. Some real estate investors will feel the urge to tap the equity in their investment properties and invest the money elsewhere.

A private lender cash out refinance on investment property is a common way for real estate investors to pull equity from an existing property. 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 an existing loan that will soon become due. Hard money refinance loans are available for various investment property types, including residential rental property and commercial property.

The investment property used as the collateral for the hard money refinance loan could be saddled with a conventional mortgage or a hard money loan or be free and clear (no loans or liens). Regardless of the situation, Wave Private Money can provide borrowers with a cash-out refinance on their investment property.

The process for a cash-out refinance on investment property is quick and easy. Wave Private Money needs a loan application to provide the real estate investor with loan approval. It then takes as few as 3-5 days to fund the cash-out refinance on the investment property. Cash-out refinances loans on owner-occupied property take at least 2.5 weeks due to the current federal regulations that all lenders must follow.

Refinance Hard Money Loans

Borrowers use cash-out refinance lenders to refinance hard money loans for various reasons. The most common causes include refinancing to a lower interest and refinancing a hard money loan that will soon be due. Hard money loans are typically for short-term use only, and terms of 1-3 years are most common.

If borrowers cannot refinance a hard money loan to a longer-term conventional loan, they may need to refinance the existing hard money loan with a new loan from a new lender. The borrower may be able to ask their current hard money lender for an extension on the loan, but lenders aren’t always able to grant them for various reasons. Borrowers may also decide to refinance hard money loans if their property has recently appreciated and they wish to pull additional equity from the property.

Refinance and Reinvest with Hard Money Loans

Wave Private Money can provide real estate investors with a cash-out refinance loan to pull equity out of an existing investment property to raise funds for a down payment. After the cash-out refinance, WPM can provide a hard money purchase loan to the borrower to help them acquire the new investment property.

Wave Private Money has the ability and resources to fund multiple loan requests quickly and enable real estate investors to accomplish their investment goals. A hard money refinance on investment property is a straightforward process that requires a simple application for initial approval.

Cash Out & Hard Money Refinance Timelines

A hard money cash-out refinance loan on an investment property can be approved and funded in 3-5 days. Wave Private Money can provide a cash-out refinance on an owner-occupied property. Still, the funding process takes longer (approximately 2.5 weeks) due to current federal regulations that all lenders must follow.

Cash Out & Hard Money 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. Since the perceived risk is higher, cash-out refinance rates from hard money lenders are higher than those from conventional lenders such as banks or credit unions. Although the interest rates are higher, the convenience, speed of approval and funding, and increase in the likelihood of loan approval are worth the added financing cost for many real estate investors.

Refinance Reverse Mortgage Loans for Heirs

Wave Private Money can provide funding to refinance reverse mortgages for heirs when an heir(s) wishes to keep the inherited property but doesn’t have the funds to pay off the reverse mortgage. Conventional lenders cannot refinance reverse mortgages for an heir since the property is not in the heir’s name. Once the reverse mortgage is refinanced, the title can be transferred into the name of the heir(s), who can apply for a long-term, lower-cost conventional loan.

Hard Money Cash Out Refinance Loans on Residential Owner-Occupied Property 

Wave Private Money is one of the few cash-out refinance brokers offering hard money refinancing on owner-occupied property. Cash-out refinance loans are available for residential owner-occupied property in some situations. Still, these loans will be subject to government regulations and require that the borrower meet specific requirements due to Dodd-Frank.

The borrower will need to provide proof of income and other information so the lender can ensure the borrower’s debt-to-income ratio will be within the acceptable range. Wave Private Money can provide 2nds up to a combined loan-to-value (CLTV) ratio of 60-65%. Loan amounts for 2nd trust deed up to $50,000-$100,000 may be available. Visit our Owner Occupied Hard Money Loans page for more information on owner-occupied and primary residence loans.