We work with a lot of fix and flip investors on a day to day basis. Many of our clients are looking to leverage existing homes to help finance ongoing acquisitions. We have the ability to assist with this need using our no seasoning cash out investment property hard money loans.
These no seasoning cash out loans are often times a good fit for rehabbers. Buying a property in need of repairs means getting it under market value. Once the repairs are done, many loans will not allow for cash out based on the current value. This is especially true if the time between the cash out request and original purchase is small. Being able to access that equity before the property sells, however, can allow an investor to move forward on another project without the need to wait on a sale to unlock that equity.
These no seasoning cash out hard money loans are true no seasoning. The loan is based on the current value, regardless of what was paid for the property or how long it has been held. These loans are not credit sensitive - although with better credit and experience we are able to get to higher loan to value ratios - as high as 80% cash out.
In addition, we can finance properties that are currently on the market. There is no need to take a property off the market for us to help. We can also structure these loans to have no prepayment penalties.
These are interest only loans, and can close quickly. If all paperwork comes in upfront we can often times get these done in about 10 business days, start to finish.
Give us a call today at 877 462 3422 to discuss your scenario and see if we can help. You can also visit us online at ACAlending.com to learn more about our California hard money loan programs.