Hard money loan and refinancing

[Samuel Shaw]

Can someone breakdown or point me in the right direction to find out how a hard money loan is transitioned to a refinance?

Thanks

Samuel

[Curt Davis]

So you purchased a home using hard money. You then go to a conventional take-out lender and tell them you need to do a refinance. Assuming you qualify for financing and the home appraises at or above where it needs to, they will pay off the hard money lender and you will now have a new conventional loan.

I suggest and the hard money lender will almost require it is to get pre-approved for a refinance before you buy the home with hard money, They will want to know they will get their money back.

Good luck