Creative Real Estate Financing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 4 years ago,
Cash out refinance hard money lender recommendations
I am in the final stages of a rehab in Indiana that I was planning on refinancing through a hard money lender once it is rented. Before the virus I saw some hard money lenders up to 80% LTV @ 6% for 30 year fixed loans.
Are there any lenders offering similar terms now? Property was 70k and with the rehab I’m in it for just under 90k. It should appraise for 130k. I expect to be able to rent it for $1375.
Expenses are $200 a month for taxes and insurance. So with a mortgage at 6% it's somewhere around a 1.9 DCR.