HOME LOANS IN 36 STATES

REAL ESTATE MORTGAGE

NEXT DAY, NO SEASONING CASH OUT REFINANCE LOAN PROGRAMS

This NEXT DAY NO SEASONING CASH OUT REFINANCE program is designed to allow an Investor or Owner Occupied property owner to pull cash out  THE NEXT DAY after the purchase of the property.

The key is establishing value. The appraisal must be "tight" meaning that the comparables are within a 3 mile area without crossing major highways and preferably in the same neighborhood. If the property is a rehab then a good "ARV or After Repair Value" must be established and ALL repairs carefully documented.

For more details Call 336-753-0844

This has traditionally been difficult to do as the property is  “UNSEASONED” or owned for any length of time. Typically lenders don’t have much stomach for this type of loan as the “Risk Factor” is calculated as higher.

VanDyk Mortgage has lined up lenders that will allow for such “UNSEASONED CASH OUT REFINANCING” or "NEXT DAY REFINANCING" even for super Jumbo Loans at reduced Loan to Values.

Typically 80% is considered max LTV for such loans though we have done them as high as 90% depending on the market and competition. We recently refinanced a Super Jumbo that a client owned just 45 days  as a "NEXT DAY OR CASH OUT REFINANCE. It appraised at $2.2M and we closed on a loan for $1.76M. The client had paid $136M 45 days earlier.

Thus he was able to pull $400K out right away. He knew that once he put it on the market for sale that usually the few loan programs that are available disappear since lenders really don’t like to refinance a home just placed on the market since it is a great indicator that the client has money or cash flow issues.

If this is a Home Loan product that you can use, then contact us and let’s get things started with your own "NEXT DAY NON SEASONED CASH OUT REFINANCE