Can you (really) always refinance ?

[Orhi Tahi]

Hi Veteran Investors,

I am keep hearing from lenders that they are saying "you can alway refinance!". 

 I wonder if its true ? What about for example 2008 when bank were not giving loans ? 

Can you explain under which conditions you cant refinance ?

Orhi

[Reggie Nworie]

Hi Orhi, 

That phrase "you can always refinance" can have different meanings, depending on the situation where it's being used. As a private lender, when we say that, we mean we will allow investors to refinance out of their hard money loans and into a DSCR loan at any time. We have no seasoning requirements if renovations were completed, so if you finish a project, you don't have to wait, we can refinance you into a DSCR right away or whenever you're ready.

To answer your second question, there are lots of things that could disqualify the deal or the borrower. Some examples would be if their credit is too low, or the DSCR ratio is too low, or the property market value is too low, there are many things that could be a road block for sure, but as long as the borrower qualifies, the property qualifies, and numbers work, lenders will lend.