Recently Closed - Delayed Financing in Middletown DE

Recently Closed - Delayed Financing in Middletown DE

     In Middletown, Delaware, a client found my name online when looking for options on taking cash out on a home recently purchased with cash.  During the purchase process, she had attempted to get a loan but needed a quick turn time.  Despite promises made, another lender failed to perform, so on settlement day, my client was forced to write a large check, depleting assets for the sake of getting a great investment property at a wonderful, below market price (yes, these opportunities are still out there!)

     When we spoke, it was clear right away that we'd be able to help her, and fast, to get her cash back so she could continue her investment aspirations.  Delayed financing was the best option for her to get cash back on her recently acquired investment property, so we went through the application, submitted her loan file, and went to closing within about 3 weeks.  

     With delayed financing, a home buyer can recoup the money spent on a cash purchase transaction within 6 months of the original purchase date (unlike normal cash out transactions, which require 6 months ownership).  This is a great program for real estate investors, but also beneficial to other scenarios, too.  

     In this instance, our borrower made a great investment and decision to use cash for her initial purchase, as our appraisal came in much higher (by about 50%) than her original purchase price.  Using delayed financing guidelines, we were able to issue her cash in the amount of her purchase price, the closing costs she paid for the purchase, and the delayed financing transaction costs.  It was a true win-win, as she was able to recoup all of her costs & regain her liquidity, while obtaining a low mortgage payment on a property with high cash flow potential.

Happy client, quick process, and another investor savvy enough to take advantage of Delayed Financing on the way to building their real estate empire and planning for an early retirement.  Have questions on delayed financing?  Ask an expert here!