Updated over 5 years ago on . Most recent reply
Refinance a hard money loan
Just wondering, is it possible to refinance a hard money loan? If so, what institutions would do so. I have read that hard money is not a long term finance strategy, so what is the next step once time runs out?
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Jon Holdman
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Jon Holdman#3 Real Estate Deal Analysis & Advice Contributor
#3 Real Estate Deal Analysis & Advice Contributor
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Pretty sure @Chris Severin is talking about a 100% loan on the hard money. That is possible if you have the right lender and the right deal. Then, if you add enough value and wait out the seasoning requirements, you might be able to refinance into a long term loan with little or none of your own cash. You really have to have the right lender and the right deal, but this is at least theoretically possible.