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07-26-2023, 12:33 PM #1
- Join Date
- Jul 2023
- Posts
- 1
Cash Out Refi
I have a client looking for a Cash Out Refi on his home. It is owner occupied. 640 Credit Score, home is paid off with a value of $442,900 and wants to cash out $150,000
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07-26-2023, 12:41 PM #2
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07-26-2023, 01:27 PM #3
I can do it in California but in other states can only do investment property. Primary residence cash out requires a broker that is licensed in the state. That being said I do know a guy who might be able to do it. I just have to reach out to him with the information.
I also recommend bank or local credit union for situations like these. Local credit unions can give you the best HELOC. Home Equity Line of Credit. email me or call with owner or your address, phone, etc.
Worst case Ironwood or World Business Lenders - but reach out to me first to check your better options. I am sure we can figure out a way to get you the cash without going to a MCA cash out collateralized by primary residence.
Oh - BTW I do have a national direct lender who can do this but they only pay a 25bps referral fee.Last edited by Olderguy; 07-27-2023 at 12:11 AM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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10-09-2023, 06:19 PM #4
- Join Date
- Mar 2016
- Posts
- 123
Mike Lewis - commercial real estate loan broker / owner
No up front fees loan broker
Commercial real estate loans: Acquisition, refinance, construction and FAST bridge loans from $200k +
tel/voicemail: 937-964-5355
cell/voicemail: 440-637-5646
corporate email: mikelewis@michaellewisgroup.com
www.linkedin.com/in/cigarmike
Veteran Owned
WE CO-BROKER with an even 50/50 split and we both get paid by wire at close.
We issue a combination mutual NDA / fee split, you introduce your CRE clients to us stating simply we handle your commercial real estate loans, we take it from there and keep you in the loop. When a loan you referred closes, you get paid at close by wire.If you can work with that please do not hesitate to contact us. Our loan forms are vanilla with no company name.
Michael Lewis Group Commercial real estate loans
http://michaellewisgroup.com/index.html
Loan Matrix
Forms
About Us
Discounted cell phone plans starting at $15 / month. AT&T from $30/mo, T-Mobile from $15/mo, Verizon from $35/mo.
http://arthodyd.com/d.html
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10-10-2023, 11:55 AM #5
- Join Date
- Mar 2021
- Posts
- 48
If this client has a loan interest rate first, get him a fixed second to they dont loose that low rate first. Second can be done full doc, bank statements,1099, and/or P&L only
Andrew Goldthorpe
Desk 707.521.0911
NewPoint Mortgage Wholesale
Andrew.Goldthorpe@NewPointMortgage.com
NewPointMortgage.com
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