Cash Out Refinance Loans
Leveraging Property Equity with Cash Out Refinance
Unlock the potential of your investment property with Level Up Lending’s Cash Out Refinance Loans. We cater to real estate investors nationwide, providing fast and flexible financial solutions.
Cash Out Refinance Loans and Hard Money Refinance Loans offer swift and adaptable options for real estate investors aiming to leverage their property’s equity for new investment opportunities.
With Level Up Lending, you can tap into your investment property’s equity and receive liquid funds within days. As a direct hard money lender, we offer asset-based loans suitable for both property purchase and cash-out refinance.
What is a Cash Out Refinance Loan?
Flexible Financing Without the Hassle
A Cash Out Refinance Loan allows borrowers to access cash from their property’s equity and use it as they see fit. Unlike traditional bank loans, these are NO-DOC programs, requiring no income verification during application.
This term loan hinges on credit history, credit score, real estate experience, and liquid assets, all of which undergo thorough underwriting. It’s an ideal choice for self-employed individuals or those without regular income sources.
While Cash Out Refinance Loans come with higher rates and fewer regulations, their quick approval process makes them appealing to many real estate investors.
Before proceeding with private money or non-qualified mortgages, it’s advisable to consult with experienced professionals to determine the right loan program for your specific scenario.
Consider the following before opting for cash-out refinancing:
- Sufficient equity in your investment property is a prerequisite.
- Homeowners Insurance is mandatory during the loan process.
- This loan is not a Home Equity Loan; it takes the first lien position.
- Use our Mortgage Calculator to estimate monthly payments and other financial details.
Why is a Cash Out Refinance Loan a Great Option for Real Estate Investors?
Cash Out Refinance Private Money Loans are tailor-made for real estate investors. They don’t demand income proof or tax documentation, ensuring swift approvals that align with the fast-paced nature of real estate investment.
These loans can be used for various property types, including single-family, condos, multi-family, commercial, and more. Loan amounts range from $75K to $5M, with rates starting at 7.46%.
Both fixed-rate and adjustable-rate options are available, and foreign nationals are eligible, making it an attractive choice for international investors.
The application process is quick and straightforward, with minimal documentation compared to conventional loans. These non-qualified mortgage (NON-QM) loans are exclusive to direct private money and NON-QM lenders.
Apply for your loan pre-qualification today and receive a response within 24 hours.
Level Up Lending’s Cash Out Refinance Loan Features
- Interest Rate: Level Up Lending offers competitive interest rates, starting at 4.49%, to help you maximize your cash flow and financial flexibility.
- Loan Term: Our loan terms are designed with your long-term goals in mind. We offer a 30-year fixed-rate term, providing stability and predictability in your financial planning.
- Seasoning Requirement: To qualify for our cash-out refinance loans, we require a minimum seasoning of 6 months leased for your investment property. This ensures that your property has a rental history, contributing to a smoother loan approval process.
- DSCR (Debt Service Coverage Ratio): Level Up Lending sets a minimum DSCR of 1.1 to evaluate your property's cash flow and its ability to cover the mortgage payments. This requirement ensures a strong financial foundation for your investment.
- Max Loan to Value: You can access substantial funding for your investment property with Level Up Lending, as we offer a maximum Loan to Value (LTV) of up to 75%. This allows you to leverage your property's equity effectively for new investment opportunities.
- Property Type: Our cash-out refinance loans are available for both single-family homes and 2-4 unit multifamily properties, providing flexibility in your investment choices.
- Credit Score (FICO): We have a minimum credit score requirement of 680 to ensure that borrowers have a strong credit history and financial stability.
- No Income Verification: Our NO-DOC program requires no income verification during the application process, streamlining the approval process for self-employed individuals or those with irregular income sources.
Leveraging Property Equity with Level Up Lending
At Level Up Lending, we recognize the untapped potential within investment properties. Our Cash Out Refinance loans are custom-designed for real estate investors, enabling them to harness their property’s equity for long-term financing at fixed rates.
Transform your property’s equity into liquid assets with Level Up Lending. Navigating the real estate landscape demands innovative financial solutions, and our tailored approach and flexible products empower you to achieve your financial goals while maximizing your property’s value.
What is a Cash Out Refinance Hard Money Loan?
A Level Up Lending Cash Out Refinance Hard Money Loan for investment properties can be approved and funded within as little as 21-35 days.
Real estate investors turn to private money lenders for cash-out refinance hard money loans due to their convenience, lower interest rates, short-term terms (typically 1-3 years), and reduced restrictions compared to conventional loans.
Distinguishing features of Cash Out Refinance Hard Money Loan vs. Cash Out Refinance Loan:
Cash Out Refinance Hard Money Loan:
- Bridge Loan
- Higher rates
- Lower Loan to Value (LTV)
- Higher costs
- NO-DOC program
Cash Out Refinance Loan:
- Term Loan
- Lower rates
- Higher LTV
- Lower costs
Streamlined Financing for Real Estate Entrepreneurs
Level Up Lending offers quick and efficient cash-out refinance on investment properties through our straightforward Loan Approval Process.
As a nationwide direct private money and NON-QM lender, we provide various cash-out refinance loans and hard money refinance loans. These loans are especially beneficial for self-employed borrowers and real estate investors who require less documentation than traditional loans.
The benefits of refinancing your investment property with a direct private money lender include freedom from income verification, immediate cash flow, and the ability to finance other real estate investments. Unlike conventional loans, there are no restrictions on how you can use the funds obtained through a refinance on an investment property.
Unlocking Property Value for Immediate Capital with Cash Out Refinance Mortgage Loans
Real estate investors can immediately access the cash flow they need for repairs, debt repayment, or other financial needs through an investment property refinance.
The process of refinancing your investment property involves the following steps:
Step 1: Borrower Documentation
- No Income Documentation Needed: NO-DOC Loan Programs do not require income verification and have fewer guidelines.
- Homeowners Insurance: Proof of homeowners insurance is essential to protect your investment.
- Asset Information: Lenders will want to see copies of your assets.
Step 2: Loan Pre-Application Process
- Find a private money lender offering NO-DOC, Stated Income, or No Income Verification Loan programs.
- Initiate the application process for approval.
Step 3: Processing & Underwriting
- Once your application meets the underwriting criteria, an appraiser will inspect the property.
- Throughout the process, the loan officer may request additional documentation related to your real estate experience, available cash, and credit.
Step 4: Loan Closing
- Closings for refinances happen faster than conventional loans.
- After the underwriting phase and approval of all documentation, the funds will be disbursed to the seller or directly to you.
For more details on how to process a Cash Out Refinance Hard Money Loan, contact us.
Ready to Apply for Cash Out Refinance?
At Level Up Lending, we prioritize your success. With years of expertise in financing, we offer a seamless application-to-approval process. We understand the importance of fast and reliable funding for your investment endeavors and are committed to supporting you every step of the way.
For more information or to kickstart your real estate investment project with Level Up Lending, please contact us via email at [email protected] or give us a call at (848) 249-5626. Take the first step by applying for loan pre-qualification today.
Empower your real estate investments with Level Up Lending – Your Trusted Partner for Refinance Loans!