Cash Out Finance or Hard Money Loan

3 Replies

I have a property that I recently purchased. I am in the process of renovating (putting about 20k into it). I would like to do more upgrades on the house, but I am not sure if I should get a hard money loan then refinance once I am complete with the renovations or wait out the "seasoning" period then take out a cash out refinance.

@Jewel Coleman I would say that the decision to take the hard money depends on what type of terms you can get and how many points the lender wants to put on it. Also, another point to consider if I may is what you are planning on doing with the property and if you have enough cash on hand to keep up the regular payments (if any) until sold. Hard money is good sometimes but not all hard money lol. Good luck hope this helped you some.