Cash Out & Refinance Loans with Hard Money in California2018-09-11T09:02:07+00:00

Cash Out & Refinance Loans
Hard Money Refinance Loans in California

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California Cash Out Refinance Loans – Hard Money Refinance Loans

North Coast Financial are California direct hard money lenders providing cash out and hard money refinance loans to real estate investors and property owners. With over 37 years of hard money lending experience, North Coast Financial is the trusted and reliable hard money partner for hard money cash out refinance loans in California.

North Coast Financial are cash out refinance lenders in California providing cash out and hard money refinance loans in Los Angeles, San Francisco Bay Area, Orange County, San Diego, Ventura, Riverside, San Bernardino, Sacramento and various other areas in the state of California.

North Coast Financial is able to provide a wide variety of hard money refinance loans, from a cash out refinance on investment property to a hard money refinance for an owner occupied property. We approve and fund loans rapidly and are able to refinance hard money loans on investment property within days. Contact North Coast Financial now and have your cash out refinance loan funded fast.

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Why Choose North Coast Financial?

Hard Money Cash Out & Refinance Loans Funded by North Coast Financial

Hard Money Cash Out Refinance for Investment Property

Cash out refinance loans can be the perfect option for real estate investors looking to take equity from an existing property in order to reinvest the funds elsewhere. Hard money refinancing is the quick and easy way for real estate investors to raise funds and then acquire a new investment property when an opportunity arises.

Cash Out Refinance on Investment Property & Rental Property

Many real estate investors find themselves sitting on large amounts of equity in their investment and rental properties after many years of a hot real estate market. Some real estate investors will feel the urge to tap the equity in their investment properties and invest the money elsewhere.

A cash out refinance on investment property is a common way for real estate investors to pull equity from an existing property. Real estate investors refinance investment property and rental property for various reasons including pulling out equity to invest in a new opportunity, refinancing to a lower interest rate or paying off an existing loan that will soon become due. Hard money refinance loans are available for various investment property types including residential rental property and commercial property.

The investment property being used as the collateral for the hard money refinance loan could be encumbered with a conventional mortgage, a hard money loan or be free and clear (no loans or liens). Regardless of the situation, North Coast Financial is able to provide a borrower with a cash out refinance on their investment property.

The process for a cash out refinance on investment property is quick and easy. North Coast Financial just needs a loan application to provide the real estate investor with a loan approval. It then takes as few as 3-5 days for North Coast Financial to fund the cash out refinance on the investment property. Cash out refinance loans on owner occupied property takes at least 2.5 weeks due to the current federal regulations that all lenders must follow.

Refinance a Hard Money Loan

Borrowers refinance hard money loans for various reasons. The most common reasons include refinancing to a lower interest and refinancing a hard money loan that will soon be due.

Hard money loans are typically for short-term use only and terms of 1-3 years are most common. If a borrower isn’t able to refinance a hard money loan to a longer term conventional loan, they may need to refinance the existing hard money loan with a hard money loan from a new lender. The borrower may be able to ask their existing hard money lender for an extension on the loan but lenders aren’t always able to grant them for various reasons.

Borrowers may also decide to refinance hard money loans if their property has recently appreciated and they wish pull additional equity from the property.

Refinance and Reinvest with Hard Money Loans

North Coast Financial is able to provide real estate investors with a cash out refinance loan to pull out equity from an existing investment property in order to raise funds for a down payment. After the cash out refinance, NCF can then also provide a hard money purchase loan to the same borrower to help them acquire the new investment property. North Coast Financial has the ability and resources to quickly fund multiple loan requests and enable the real estate investor to accomplish their investment goals.

A hard money refinance on investment property is a straightforward process that requires a simple application for initial approval.

Cash Out & Hard Money Refinance Timelines

A hard money cash out refinance loan on an investment property can be approved and funded in as few as 3-5 days if needed.

North Coast Financial is able to provide a cash out refinance on an owner occupied property but the funding process takes longer (approximately 2.5 weeks) due to current federal regulations that all lenders must follow.

Cash Out & Hard Money Refinance Interest Rates

Hard money refinance interest rates are generally consistent with interest rates of other hard money loans, depending on the specifics of the loan scenario. Cash out refinance rates from hard money lenders are higher than rates from conventional lenders such as banks or credit unions since the perceived risk is higher.

Although, the interest rates are higher, the convenience, speed of approval and funding and increase in likelihood of loan approval are worth the added financing cost for many real estate investors.

Refinance Reverse Mortgage Loans for Heirs

North Coast Financial is able to provide funding to refinance reverse mortgages for heirs, in situations where an heir(s) wishes to keep the inherited property but doesn’t have the funds to pay off the reverse mortgage. Conventional lenders are not able to refinance reverse mortgages for an heir since the property is not in the heir’s name. Once the reverse mortgage is refinanced, the title can be transferred into the name the heir(s) who can then apply for a long-term lower cost conventional loan.

Hard Money Cash Out Refinance Loans on Residential Owner Occupied Property

North Coast Financial is one of the few lenders offering hard money refinancing on owner occupied property in California. Cash out refinance loans are available for residential owner occupied property in some situations, but these loans will be subject to government regulations and require that the borrower meets certain requirements due to Dodd-Frank. The borrower will need to provide proof of income and other information so the lender can ensure the borrower’s debt to income ratio will be within the acceptable range.

North Coast Financial is able to provide 2nds up to a combined loan to value (CLTV) ratio of 60-65%. Loan amounts for 2nd trust deeds up to $50,000-$100,000 may be available.

Visit our Owner Occupied Hard Money Loans page for more information on owner occupied and primary residence loans.

California Hard Money Cash Out Refinance Loans from North Coast Financial

North Coast Financial provide hard money refinance and cash out refinance loans in Los Angeles, Orange County, San Diego, San Francisco Bay Area, Ventura, Riverside, San Bernardino, Sacramento and many other counties in California. Contact North Coast Financial now and have your hard money cash out refinance loan funded quickly.

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North Coast Financial Cash Out Refinance Loan Program

  • Cash Out Refinance Loan Program

Loan Application Approval TimelineSame day approval available
Time to Fund LoanAs few as 3-5 days if needed
Property TypesSingle family, multi-family, commercial, industrial
Loan Amounts$30,000 – $3 Million+
Loan Terms6 to 36 months with longer terms available
Lien Position1sts & 2nds
Loan to Value (LTV)1sts – Up to 70-75% of current value  2nds – Up to 65% CLTV
FeesNo appraisal fees (in most situations) and no hidden junk fees
Cash Out Refinance Interest Rates and PointsPlease contact us for information on current rates and points
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