Sentences with phrase «cash out refi»

hey... question: im planning to do cash out refi and spoke to 1 bank; my house market value is $ 475.000, i owe 252.000, planning to get $ 100.000, the guy i spoke to told me the «estimate loan amount» is 355.000,,, here is my question: $ 475.000 — market value — $ 100.000 — cash out = $ 375.000 — after cash out if the loan amount is $ 355.000 where is the $ 20.000 go?

I'm a little late on this post but try Daniel Molina at corevest for cash out refi on sfr.

More importantly, invest on property that has great equity value for cash out refi.

So, If I buy the houses right (cheap enough) and can fix them up for less than 75 % of the appraised ARV value, why not cash out refi until I have the max number of mortgages and maybe even get paid to purchase homes.

$ 1 mm Current loan Approx $ 235k Father date of death 5-13-08 Probate done (by me via NOLO) Title — I would like to see how it's vested but submitted paper work to county at end of probate Want cash out refi with approx $ 50k to prep house for sale.

We can't get a home equity loan due to low credit scores, so looking at possibility of cash out refi.

End goal is to do a 75 % LTV cash out refi by 1 Jan 2019 and pull out our downpayment.

Unless you have access to a couple hundred grand in equity, I would start slow and take advantage of conventional cash out refi loans to stretch your capital as best you can.

2) First few loans should take advantage of conventional cash out refi's.

My intention is really to buy multiple properties using 20 % -25 % done, but I was hoping that due to the time constraints with the 1031 exchange that if I couldn't find enough suitable properties that I could use a full cash purchase on one or two to complete the process within the 180 day window, then cash out refi to buy more properties.

Lenders are scrambling to spin up new offerings as mortgage rates rise and no - cash out refis dry up.

Doesn't hit the «rules» in this regard, but I can cash out refi in a year to a much better interest rate and extend the term so I cash flow better.

I'm doing my first cash out refi right now for $ 100k!

I'm looking to cash out refi now, and start another one.

Additionally, you can use a VA cash out refi to refinance a non-VA loan (FHA loan, USDA loan, conventional loans) into a VA loan.

spend up to $ 20K (central air, floors paint electric upgrades, and kitchen bath and roof all new) and easily collect $ 1500 - 1600 / month (and yes I can still cash out Refi and pull out all my money to invest in another).

Most cash out refi's require that you've owned the property 6 months, will loan at a max LTV of 75 % and my lender will even include 75 % of the rents in your DTI calculation if you can simply show a lease.

I Was told if you have 4 mtgs or more FM won't allow cash out refi..

I can make interest - only payments but without a big jump in equity (to support cash out refi) I don't see how to cash that investor out without selling the house (s) purchased with their investment money.

They were able to do a 70 % LTV 4.75 % 20 year fixed cash out refi.

I would recommend a long enough term on the balloon for you to be able to get some improvements done so that when your note is de you can get some solid cash out refi terms and be sure to have your llc showing some decent earnings for the 2 years before you plan on qualifying for a loan.

Me: It would be very reasonable and doable for me to buy them over a period of time using Cash Out Refi, one after another.

As for payback, you could either pay them back as quickly as possible with the extra cash flow, offer them a percentage of the profit from the deal and / or a larger percentage of the monthly cash flow, or target a rapid cash out refi if the deal allows.

If you need cash, cash out refi instead so you get at your equity tax free!

Cash out Refi while you still live there.

I've heard a little bit about cash out refi, not sure if that'd be a smart route, Ive read about all cash buyers doing this after they purchase a property and get it ready for rent.

I also do kitchen and bath updates, paint flooring etc. basically make it cosmetically really nice to get top dollar in my market and also be able to do cash out Refi.

For example - I was going to get 3 cash out refi on my Ohio duplexes, got quotes for 5 + lenders and everyone was about $ 4,500 - $ 7,000 in total loan fees (this is not including prorate amounts for property taxes, insurance, etc. which can bump your cash required to close up to $ 10k - $ 15k.

I don't even mind doing all cash transaction, as I would cash out refi with delayed financing afterwards.

Option # 1: take out a 75 % LTV cash out refi and take the money and buy 4 rental properties each.

We are equity based lenders and we make purchase money and cash out refi loans on commercial, residential and land in California only.

I guess they go all cash to acquire the property fast and then cash out refi to get their money back and move on to the next.

Lenders are scrambling to spin up new offerings as mortgage rates rise and no - cash out refis dry up.

Honestly the way i approached «shopping around» for my first cash out refi was to pick a small local bank that I wanted to develop a long term relationship with instead of looking for the best rates / terms.

In addition, you can only do those conventional cash out refi's 4 times (or maybe 6 thru freddie)?

These properties are limited to 70 % LTV to qualify for a cash out refi until the waiting period is up.

For those opting to stay in their home instead of selling and upgrading, a cash out refi is one way to renovate.

Your best and really only bet would be to try and get a cash out refi to 90 % of the appraised value of the home.

These properties are limited to 70 % LTV to qualify for a cash out refi until the waiting period is up.

Hi, we are in the process of doing a cash out refi.

and the bank raised the interest rate of the refi to 4.125 for 30 year... becuase they add points on cash out refi or i could pay off points (this confused me, can u clarify......) now the bank has started my loan but i feel like i missing something?

Do you know if there are any rules or penalties around how quickly one can pay off their cash out refi?

Also we first tried for a home equity line but were declined because they did a drive by appraisal which only came in at 189k can we use this appraisal we just got from the mortgage company to try for the cash out refi?

Generally there are pricing adjustments for a cash out refi that raise the cost and / or interest rate of the loan.

If you owe $ 100,000 on your house and you are able to do a cash out refi for $ 150,000, you have $ 50,000 to spend on what you need.

The interest rate on your current mortgage is critical when deciding if you should do a cash out refi.

I get this thing cash flowing in 45 days and do a cash out refi with 30 year fixed rate somewhere around 4.5 % at 75 % ltv after it seasons at least 6 months.

But given I have over 4 properties in my name, I think it would be even harder to find someone that would do a cash out refi.

I'd be willing to do a cash out refi to if they only did that.

And they require 6 months seasoning before they'll do a cash out refi, so if we went with the construction loan from them, we'd have to wait 6 months to start construction or pay out of pocket and wait 6 months to cash out.