Unconventional Refinancing for Fix and flip

[Xavier Longwa]

Will hard money lender's or any other unconventional lender lend money on equity of a home alteady owned clear and free? If so is it still based on 60-70% of the ARV with the same points and interest set up?

[Chris Mason]

Originally posted by @Xavier Longwa:

Originally posted by @Account Closed:

Originally posted by @Xavier Longwa:

Will hard money lender's or any other unconventional lender lend money on equity of a home alteady owned clear and free? If so is it still based on 60-70% of the ARV with the same points and interest set up?

 They might but usually not if it is  "Owner  Occupied" and it isn't long term lending. Typically for 6 mos to 1 year.

Ok thanks. It's not owner occupied and thats the term we're looking for.

FNMA HomeStyle is a reno mortgage, similar to 203k, but it'll go for SFR investment properties.