Any lenders in Indiana to refi out of hard money?
3 Replies
Justin Young
Investor from Honolulu, Hawaii
posted over 3 years ago
Aloha BP!
Would anyone here have a connection or referral to a lender that could refinance out of hard money for a single family as soon as the rehab is complete or at least close to it? The property of interest is in the Fort Wayne, Indiana area. Thanks in advance.
Doran Summers
Lender from Chicago, Il
replied over 3 years ago
@Justin Young . It depends on the arv and typically you would have to hold it at least 90 days.
Justin Young
Investor from Honolulu, Hawaii
replied over 3 years ago
@Doran Summers Would delayed financing work in this situation or is that only used for an all cash purchase upfront (non-hard money)?
Harjeet Bhatti
Lender from Chicago IL- CDLP
replied over 3 years ago
@Justin Young You can refinance under rate and term. For cash out you have to wait for 6 month.
To use delayed financing exception it should be cash purchase or personal loan.