Hard Money loans have been a hot program for high net worth individuals either purchasing primary residences, multi-family units or other investment properties. There are options out there with much better terms available then hard money loans.
Hard Money loans usually come with an extremely high interest rate anywhere from 9-15% interest. On top of the high interest rate they usually require a large amount down (sometimes even 50%). They are also usually short term financing where you would have to pay off the loan within a certain amount of years.
Why do people usually get Hard Money Loans? Typically they are in a situation where they had a previous economic event that prevents them from obtaining traditional financing. They could also be in a situation where their tax returns don’t show a significant amount of money being made after expenses.
What is the benefit of Hard Money Loans? there is not a lot of benefits on getting a hard money loan, but there still are circumstances where someone may only qualify for this type of loan.
How do you Refinance Out of a Hard Money Loan? There are multiple options allowing you to refinance with aggressive pricing that help you lower your payment, cash-out or get out of a high interest hard money loan
What does it mean when you refinance your loan? Refinancing your mortgage means that your are replacing the original loan. Refinancing your home loan allows borrowers to obtain better interest rate and terms of the loan. When you refinance your first loan gets paid off allowing the second loan to take place. The process of refinancing your mortgage loan can offer many benefits such as, reduce monthly payments, lower interest rates, pay off debt, take cash out of your home to make home improvements or even fund large purchases.
When should you refinance your mortgage?This is the perfect time to find out about your refinance options. The first step is to speak with a Mortgage Loan Officer to find out if refinancing is a offer excellent Cash Out and Debt Consolidation Refinances with No Fees and Low Rates as well.You can also Refinance your home loan with us even if you are Upside Down.
Superior Mortgage Lending is a Las Vegas Mortgage Broker by design. We partner with several lenders to offer multiple Loan Products and we are not captured with certain credit scores and can offer better rates and no fees.
- Get the Refinance – Skip The Appraisal Looking to Refinance but don’t want the hassle of getting a new appraisal? Save hundreds of dollars on the appraisal fee. Call us today to learn how you might be eligible for an appraisal waiver
- CONTACT US TODAY 702-507-4170 | www.superiorml.com
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