Cash out REFINANCE
Real Estate Funding Solutions guarantees clients the best and lowest mortgage terms in the real estate market especially for non-owner occupied properties or investment properties with long term rental agreement. If you already obtained a term sheet from another lender for your cashout refinance deal, please feel free to email over the existing term sheet along with a copy of the appraisal report so that we can beat your current offer with better terms.
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Cash out Refinance is one type of real estate financing options where borrowers replace their current mortgage product with a new mortgage for the purpose of cashing out the remaining balance of the old mortgage once paid off by the new mortgage at closing.
The process of cash out refinance transactions is only possible if the value of the subject property has gone up since the purchase transaction of the same property has been completed, which allows the property owner to cash out the difference in equity since the property value is much higher than before.
Once the underwriting process has been completed, borrowers typically receive the funds via wire within 24 hours of closing date.