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2 N Central Ave #1800, Phoenix, AZ 85004

Cash Out & Refinance Loans

In the dynamic realm of real estate financing in Arizona, we pride ourselves on offering tailored solutions to meet the diverse needs of our clients. As an alternative to conventional lending pathways, we present unique, swift, and flexible financial options. One of the standout offerings in our portfolio is the Cash-Out Refinance loan option, which has garnered significant attention and preference among property owners in the Grand Canyon State.

When we talk about Cash-Out Refinance, we’re referring to a strategy where a borrower refinances an existing property loan for an amount that’s greater than their current debt. By doing so, they can capitalize on the equity they’ve built up in their property, providing them with the liquidity they might need for other investments or expenses. At Hard Money Lenders Arizona, we’re here to facilitate and guide you through this process, ensuring you leverage the best out of your property’s value.

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If you prefer to email us, fill out the form below and an associate will contact you to review the loan scenario and provide a quote.

How a Cash Out Refinance Works

A cash-out refinance allows homeowners to tap into their property’s equity by refinancing their current mortgage for an amount greater than what they owe. This difference between the new loan amount and the existing debt is given to the homeowner in cash. For instance, if a homeowner owes $150,000 on their mortgage but qualifies for a $200,000 refinance, they can pocket the $50,000 difference. This cash can be used for various purposes such as home improvements, debt consolidation, or major purchases. The new loan replaces the old one, and the homeowner will make monthly payments based on the new loan terms.

Your Best Cash-Out Refinance Options

If you’re considering a cash-out refinance, we’ll be your dedicated partner, navigating the complexities to identify the best options for you. Our expertise in the Arizona real estate market, coupled with a deep understanding of hard money lending nuances, ensures you get optimal terms and rates. We prioritize swift, transparent processes, guiding you every step of the way. Whether you seek funds for renovation, debt consolidation, or other investments, trust us to facilitate a seamless cash-out refinance experience, unlocking your property’s true value.

Reasons To Consider
A Cash-Out Refinance

A cash-out refinance allows homeowners to tap into their property’s equity by refinancing their current mortgage for an amount greater than what they owe. This difference between the new loan amount and the existing debt is given to the homeowner in cash. For instance, if a homeowner owes $150,000 on their mortgage but qualifies for a $200,000 refinance, they can pocket the $50,000 difference. This cash can be used for various purposes such as home improvements, debt consolidation, or major purchases. The new loan replaces the old one, and the homeowner will make monthly payments based on the new loan terms.

Cash-Out Refinance Vs.
Home Equity Loan

Cash-out refinance and home equity loans both allow homeowners to tap into their property’s equity, but they function differently. A cash-out refinance replaces the existing mortgage with a new, larger loan, giving the homeowner the difference in cash. It essentially resets the mortgage while potentially offering a new rate and term. In contrast, a home equity loan is a separate, second loan taken out against the equity in the property, without disturbing the original mortgage. This means you’ll have two monthly payments: one for the original mortgage and one for the equity loan. Both options have their advantages depending on individual financial situations and goals.


Frequently Asked Questions About Cash Out Refinancing

A cash-out refinance involves replacing your existing mortgage with a new one for a higher amount. The difference between the two amounts is given to you in cash. This option allows you to tap into your home’s equity without selling it.

A regular refinance focuses on getting a new loan with better terms (e.g., lower interest rate) without taking out additional money. A cash-out refinance, on the other hand, provides extra cash on top of the refinancing benefits.

There are no strict limitations. Homeowners often use it for home improvements, debt consolidation, tuition fees, emergency expenses, investments, or any other significant expenditures.

Typically, lenders require you to retain at least 20% equity in your home after the cash-out refinance, ensuring a cushion against potential property value fluctuations.

Yes, most lenders will not allow you to borrow 100% of your equity. The exact amount varies, but it’s typically capped at 80-90% of the home’s current value.

The rates for cash-out refinances might be slightly higher than standard refinance rates due to the increased loan amount and associated risk. However, rates depend on multiple factors, including credit score, loan-to-value ratio, and market conditions.

Cash-out refinances come with closing costs, typically ranging from 2-5% of the loan amount. It’s crucial to factor these costs in when determining if this option is beneficial for you.

The interest on your refinance might be tax-deductible, especially if the cash is used for home improvements. However, always consult a tax advisor to understand your specific situation.

A cash-out refinance could extend, reduce, or keep your term the same, depending on the new loan’s terms. It’s crucial to consider if you’re comfortable extending your mortgage timeline.

This depends on your financial situation, goals, and market conditions. If you can secure a lower interest rate, need a substantial amount of money, and have significant home equity, it might be advantageous. However, always consider long-term implications, monthly payments, and overall loan costs.

Typically, a cash-out refinance can take 30-45 days, similar to a standard mortgage refinance. However, the timeline can vary based on the lender and the complexity of your situation.

As with any mortgage, if you can’t keep up with payments, you risk foreclosure. By taking out more money, you’re also increasing your loan balance, which could mean a higher monthly payment or longer loan term.

Why Choose Hard Money Lenders Arizona Led by Michael Iuculano?

Navigating the real estate funding landscape can be intricate. Hard Money Lenders Arizona, spearheaded by Michael Iuculano, stands out as your optimal choice for Cash-Out & Refinance and other financing needs. With Michael’s extensive experience and in-depth understanding of Arizona’s real estate market, you’re ensured personalized, efficient, and effective solutions. Our team’s commitment to transparency, quick turnarounds, and flexible terms makes the lending process seamless. By choosing us, you’re not just getting a loan; you’re gaining a partner dedicated to your financial success and property aspirations. Your vision, empowered by our expertise, creates the perfect synergy for growth.

Contact Hard Money Lenders Arizona Today

Start your hard money loan application today! Call Us At (480) 576-5788 or click below

Excellent4.9 Based on 204 reviews fromSean C.Sean C. ★★★★★ I had the pleasure of working with Michael to secure a loan for our home. He was able to gather our information, and close, record, and fund the loan within 10 days! the process was the least painful loan process I've experienced. The timing was perfect, we needed the good news and the great experience. Thanks again Michael we really appreciate it.Response from the ownerSean, thank you so juch!! Was a true pleasure to work with you. You made me look good! Looking forward to working with you again!!! John B.John B. ★★★★★ Michael is a pleasure to work with. He strives to make sure every aspect of the lending process is made clear and works hard to make sure things get taken care of ASAP.Taylor S.Taylor S. ★★★★★ Michael gets it done! If there is a deal that has any obstacles, like one I was recently working, Michael is a true deal saver. Highly recommend.Response from the ownerThank you Talyor! This will be the first of many to come! Levi D.Levi D. ★★★★★ Absolutely the best lender I have worked with thus far. Straightforward, efficient and personable. I will only be using this lender from now on!Response from the ownerThank you so so much. It was great meeting with you and I hope this is the first of many deals we do together!! Emily M.Emily M. ★★★★★ We had a wonderful experience with Michael Iuculano. The process for our loan was only about 2 weeks start to finish. They found us the perfect lender for our project with terms that were agreeable to all parties. He was super responsive to all of our questions and understood what we needed from the beginning. We will definitely be working with him again!Response from the ownerEmily, thank you so much to you and Luke. I am ecstatic to have been able to do this deal for you and very much looking forward to being your go to Guy!! Justin B.Justin B. ★★★★★ Quick and responsive! Definitely educated me on what I needed to make things happen! Thank You Guys!Response from the ownerJustin, very much appreciated! Thank you and looking forward to working with you again! Jacque M.Jacque M. ★★★★★ Michael was amazing! He closed my transaction in three and a half weeks without any hiccups. Diane Chamberlin, his assistant, was also extremely helpful and expedited the process. I would highly recommend!Response from the ownerThank you Jacque, it was a pleasure working with you and glad to have been able to help! Greg L.Greg L. ★★★★★ Easy process and quick turnaround. Mike and his team made it easy.Response from the ownerGreg, Thank you so much for the opportunity to help your clients! We look forward to working with you again soon! Osiel A.Osiel A. ★★★★★ Tim D.Tim D. ★★★★★ All I have to say is that Mike is well known and I’ve worked with him in the past, as well. He will get it done. In this case we had 48 hours. He got it out and signed in 24 hours, from the time I brought it to him. Saved customers house. Fantastic job, Mike.Response from the ownerTim, we appreciate working with you again and as always. You made it very easy and we are delighted with the result! David R.David R. ★★★★★ I read Michael's ad in a home buying magazine and after having two other loan "order takers" just give up, I decided to give him a call. Best thing I could have done. Working with Michael is such a great relief because he gets that not every loan is some "cookie cutter, fit the formula" type of transaction. He takes the time to ask questions and find out what the goal of the loan is. In my case it was to unlock equity in other properties so I could better leverage my rentals. Michael had the knowledge and contacts to get my loan completed, and offered a few different solutions .Michael's assistant Lara made sure everything got done right, and on time. She is great to work with, and responded quickly to any question I had. Together they make a great team and I look forward to working with them in the future.Response from the ownerDavid, thank you so much for your reply. We loved working with you and you were extremely prompt and responsive so it's certainly made it easier and faster. We are looking forward to working with you again soon! Sean M.Sean M. ★★★★★ Michael Luculano and his team are nothing short of miracle workers in making a complex deal easy.My wife and I were recently visiting Scottsdale for her birthday and had decided to look at a few homes. Nothing immediate, just getting ideas for the future. Then on the last day we run into the perfect new construction home, only problem is we weren't prepared to buy. Most of our long-term funding was tied up in our home back in Oregon and to complicate things further, the seller had another cash offer on the table and a ridiculously fast 3 week closing requirement to secure the property.So, we took a leap of faith and called Hard Money Lenders with Barrett Financial and got Michael on the phone. That quickly took us from an impossible deal to closing on our new home in record time. Michael clearly communicated all the terms and numbers up front. And being such a rapid deal with a large amount of escrow on the line, he personally checked in with us daily.We have worked with a lot of great people in the real estate and mortgage industries for over 30 years and have to say that Michael is one of the top professionals we have ever met. A true expert in mortgage and bridge loans / private lending. Even better, it was clear to us every day that Michael truly cares about his clients. Best phone call we could have ever made.Thank you, Michael and Lara, for helping us make this North Scottsdale dream a reality!Response from the ownerSean, it was an honor to get the opportunity to work with you. I take my clients very seriously and it was awesome to work with you on this and earn the right to share in your joy. You were very responsive to all my calls and you were definitely a contributor in the outcome. I appreciate this opportunity immensely and welcome to Arizona! Steven S.Steven S. ★★★★★ I had a great experience working with Michael. He was quick, communicative, and professional. The whole process was easy and I got my funding very fast.Response from the ownerSteven, we appreciate you so much. You were amazing to work with and super responsive. Thank you so much for the business and the trust! We look forward to working with you again soon! Cindy D.Cindy D. ★★★★★ Excellent service! Michael was able to close our loan at a lower interest rate than originally quoted, as an added benefit to the already pleasant experience of working with Michael & his team. We closed ahead of time, no suprises, no drama, just positive results. The professional, dedicated staff was impressive as well. For positive results, this should be your mortgage choice.Response from the ownerCindy, it was an absolute pleasure to work with you and you certainly made it easier by being so thorough. Thank you so much and we hope to work with you again soon! Darlene L.Darlene L. ★★★★★ Mike was so very helpful in getting a loan for my new house! THANK YOU!saleh abd al H.saleh abd al H. ★★★★★ Michael, thank you so much you made this process so easy, I really appreciate it so muchSaleh.wyatt A.wyatt A. ★★★★★ Recently used Mike for an investment purchase. Everything went smoothly. All fees were disclosed up front and matched at closing. Definitely using them again!John H.John H. ★★★★★ Micheal my guy straight handled business in a timely fashion I like to say thanks to you and your staff . Highly recommendSabria W.Sabria W. ★★★★★ Pleasant experience very professional and simply gets the job done, I look foward to our next deal.D ND N ★★★★★ Awesome lender that made things really simple to work with. Went above and beyond to get us a higher LTV than most of the other well-known lenders and had a quick close. Highly recommend using them!Steven R.Steven R. ★★★★★ Working with Michael was an absolute pleasure. I have done a lot of real estate transactions over the years and appreciate it when someone cares about their customer and getting the deal done on time and at the terms I was quoted. There are many bait and switch lenders out there but Michael and his team were always available when I had a question and when a potential issue popped up he was on it even while on vacation to get it resolved. That’s the type of service I expect and appreciate. Highly recommend if you’re looking to finance a deal.StevenErnest K.Ernest K. ★★★★★ Pablo R.Pablo R. ★★★★★ Michael and Lara were so easy and amazing to work with. On top of that, Michael really values relationships and will make sure what he says is delivered. Anyone looking for a hard money team, THIS IS THE ONE!!Celly D.Celly D. ★★★★★ Michael and his team were very professional and extremely proficient and were able to find a solution for my client when no other lender could not! Highly recommend him!!Jean P.Jean P. ★★★★★ Michael provided excellent customer service. I would recommend him to anyone. Thanks for your help and fast prompt service.js_loader
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