Refinancing With Hard Money
Refinancing is basically getting a new mortgage on an existing property.
You need to have equity in your existing home.
Why Should You Refinance?
Some homeowners take out their equity to buy a car, to remodel their home or to pay off other debt. Refinancing is also used to get financing for new real estate investment. If a someone wants to refinance but does not qualify for a conventional loan or they need a fast loan,
this is where a hard money loan can be of benefit.
Some mortgage agreements allow the mortgage company to charge you a prepayment penalty of your current mortgage. Make sure you find out about any possible fees involved in refinancing before getting started with a new loan. Keep in mind, your new lender will have fees that you incur with the new loan application. You'll want to determine if the cost of procuring the loan is worth it.
Why Storehouse Lending?
We have been in business for almost a decade now and licensed for the entire state of California.
We just have two simple key qualifications:
1. Decent equity
2. An ability to repay the loan.
If speed is a factor, this is our specialty. We have funded many a loan in less than a week!