Cash-Out Refinance Loans

About Cash-Out Refinance Loans

Do you need money? Do you have extra value in a property investment? You should check out Fast REI Loan’s Cash-out Refinance Program. It’s an easy and quick way to get money from your property by either using the value that’s already there or by getting a new loan and adding more value. This process won’t hurt your credit score, and you can get a better interest rate.

New Construction Loan Details

Interest Rate:

Rates Starting at 6.875%

Max Loan to Value:

Up to 75% LTV

Credit Score (FICO):

Minimum FICO of 680

Property Type:

Single Family and 2-4 Unit Multi-family

DSCR (Debt Service Coverage Ratio):

Minimum DSCR of 1.1

Loan Term:

30-year Fixed Rate

Seasoning Requirement:

Minimum Seasoning of 6 Months Leased

Income Verification:

No Income Verification

Frequently Asked Questions

How is a Cash-Out different from a Rate & Term Refinance?

The two loans are very similar. They have the same process, timeline and requirements, but have different purposes. Rate & Term Refinances are used to pay off an existing loan balance while receiving a better rate. Cash-Out Refinances are used when the property has existing equity.

What can I do with my proceeds?

After you get the loan, you can use the money for whatever you want. Some people choose to sell their property to get cash and buy more rental properties, start new building projects or go on vacation with the money they earned.

Is this any different than a bank loan?

Fast REI Loan has a Cash-Out Refinance Program that works like a bank loan but better. We can close the loan within 30 days, and we do not need tax returns or income statements. Plus, the loan is completed under an LLC/Corp, which won’t appear on your personal credit.

How long are these loans for?

We offer different loan options that will fit our customers’ needs. These include 5/1, 7/1, and 10/1 adjustable-rate mortgages (ARMs), as well as a 30-year fixed-rate loan. Regardless of the chosen loan option, the payment plan is spread over 30 years, which means lower payments.