Refinancing out of a hard money loan

[Marc Stevenson]

Hey just wanted to know who ya'll are currently using when refinancing out of a hard money loan?  I've noticed that some lenders are no longer refinancing on the after repaired value if the house has been owned less than 5 years.  Are you seeing that?  Also, what are your thoughts on 20 vs 30 year terms when the plan is to buy more?  Any thoughts or input is appreciated!

[Jared Rine]

@Marc Stevenson..ME (full disclosure, I'm a mortgage broker). Any type of DSCR lender should be giving full value after 6 months of ownership...5 years is wild if that's a guideline with lenders you know of. 20 is going to pay off sooner obviously but I have clients many clients taking 40 Year Interest-Only $$ (10 Years I/O, 30 year fixed). Prepay ends in 5 years or less. Cash flow to the maximum.