Cash Out (Hard Money) Loans, which are also called private money loans, are offered by private investors to borrowers based on the value of a real estate asset, as opposed to personal credit. Because cash out (hard money) loans require far less documentation than conventional loans, borrowers can typically have their loan funded in less than a week. Cash out (hard money) loans are primarily based on the appraised value of and clear title to the property, and the borrower’s exit strategy.
There are three reasons people get cash out (hard money) loans, and you can find links to our specific product pages for each of these types of loans below:
A cash out (hard money) loan is designed to be a temporary solution, and not a long-term loan. For this reason, it is structured as a balloon with a term ranging from six months to seven years. At that time, you would need to either sell or refinance the loan.
One important advantage of a cash out (hard money) loan is that it is granted more quickly than a conventional loan. In fact, we usually close and fund within three to seven business days and often in as little as 48 hours.
Different Types of Cash Out (Hard Money) Loans
For more information, please contact one of our licensed Loan Officers by calling us directly at 844-574-LOAN (5626) or by filling out an application (https://westparkloans.com/apply/) directly on our website.
"Anthony Carroll will take EXCELLENT care of you! I am a full-time Realtor in Big Bear, CA with the Rahill Real Estate Group, I have represented a lot of buyers and have worked with many lenders. And I can say with confidence that Anthony is a rare find. He picked up his phone EVERY time I needed to reach him, was quick to answer questions and he kept all parties in the loop through out the entire transaction. When I followed up with our mutual client (the Buyer) after the sale, and asked her how she felt the process went, she was sure to mention how pleased she was with Anthony's service. Thank you, Anthony, for taking great care of my client! Looking forward to working with you again (I have already referred you to another one of my clients). Keep up the good work!"