2019 Investor Refi Special - 40 year fixed! Interest only payment
Kick off the new year with operating capital that’s cheaper than you might expect!
- Investment property and primary residence terms of up to 40 years, fixed interest rates available. Maximize cash flow with a longer term and lower payment.
- Option to have first 10 years be interest only. To calculate an interest-only minimum payment, you multiply the rate by current balance and divide by 12. This means that as you pay the balance down, the minimum payment goes down!
- NO prepayment penalty, NO balloon payment.
- Converts to a 30-year fixed in month 121 at the rate locked in upfront, at whatever the balance is at that point. Pay the balance down today to maximize cash flow in the future for long-term holds!
- 80% LTV cash-out for 2 to 4 unit rental properties.
- 95% LTV cash-out on a SFR primary residence.
- In the above cash-out scenarios, a lower LTV will apply if you own 11-15 financed properties.
- Loan amounts ranging from $300k to $3m.
- Realtors: your clients need down payment funds. Does it get any better than this?!
- No limits on cash-out dollar amount.
- Due to the lower interest only payment, often times this works out to be a "cashflow neutral" cash out refinance.
Non-comprehensive list of requirements, other restrictions apply:
- California properties only.
- Refinance only, and you must own your primary residence.
- Requires full documentation, applicants must have good credit and be reasonably well-qualified. Other applicants may qualify for more traditional financing - inquire for details.
- Short term rental income (AirBnB/VBRO/etc) is acceptable!
- Reminder that in current market conditions, it’s not realistic to start the cash-out refinance process after you’ve identified the property you wish to use the funds to purchase. You need the down payment before the deal hunt begins!
Please give me a call for more information at (707) 579-5411 for more information. Ask for Scott.