Construction Refinance Loan

2 Replies

I am in the final stages of my first real estate fix and flip project. I have a conventional mortgage note on the property, and to finance some of the construction so far, I have drawn out several personal loans. I need another approximately 80-90K to finish the project. I have heard about options where I could do a refinance based on final ARV, so that I could incorporate my existing mortgage, pay off the personal loans, then draw out enough cash to complete the project. Can anyone give any more guidance on this option? I really need something with a very quick turnaround, and do not have a deposit to put down due the fact that I have been so drained by financing this project to this point. Any guidance or suggestions would be greatly appreciated!

The total amount owed currently is about $726K, including existing mortgage and other small loans taken to date. I will need about another $100K to complete. Projected ARV is about $1.05M. Feel free to private message me with any info or details. I appreciate any help immensely!