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Updated 12 months ago on . Most recent reply
Refinancing options on flip we want to keep
My partner and I used hard money to buy property and have about 180k in house so far. We need additional 50k to Finnish house and estimate conservatively it will be worth 350k, I think it will be closer to 420k. What type of lending options are out there to get additional 50k and refinance home?
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Robin Simon
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Robin Simon
#3 Private Lending & Conventional Mortgage Advice Contributor
Pro Member
#3 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Austin, TX
It should be possible to get a hard money loan to finish renovations but many lenders in the space tend to be hesitant to lend in these situations (running out of money mid renovation with already using a HML)