Are you stuck with a high-interesthard money loanand struggling with steep monthly payments? It’s time to take control of your finances andrefinance out of your hard money loan immediately to the single digitswithe-Finance Mortgage LLC. Hard money loans are useful for short-term financing, but their double-digit interest rates can drain your wallet. Fortunately, refinancing into a traditional mortgage with single-digit rates can save you thousands and provide long-term stability.
Why Refinancing Out of a Hard Money Loan is Crucial
Hard money loans typically come with interest rates ranging from10% to 15%, making them an expensive financing option. While they are great for quick funding—especially for fix-and-flip investors or those with poor credit—they are not sustainable for long-term property ownership. By refinancing into a conventional loan, FHA loan, or even a portfolio loan, you canslash your interest rate to as low as 6-8%, drastically reducing your monthly payments and improving cash flow.
The Benefits of Refinancing to a Lower Rate
Lower Monthly Payments– Switching from a 12% hard money loan to a 7% conventional loan can cut your payments by hundreds (or even thousands) per month.
Long-Term Savings– Over a 30-year term, the difference between a 12% and 7% rate could save youhundreds of thousands in interest.
Improved Cash Flow– Lower payments mean more money in your pocket for renovations, investments, or other financial goals.
Stable Financing– Traditional loans offer fixed rates, protecting you from unpredictable payment hikes.
Ate-Finance Mortgage LLC, we specialize in helping borrowers transition from high-cost loans into affordable, long-term mortgage solutions.
When Should You Refinance Out of a Hard Money Loan?
Timing is everything when refinancing. The best time torefinance out of your hard money loan immediately to the single digitsis when:
Your credit score has improved (even a 620+ FICO can qualify you for better rates).
The property has been stabilized (e.g., repairs completed, tenants in place).
Interest rates are favorable (locking in a low fixed rate ensures long-term savings).
Waiting too long could mean paying unnecessary interest, so acting quickly is key.
e-Finance Mortgage LLC
How e-Finance Mortgage LLC Can Help You Refinance
Ate-Finance Mortgage LLC, we streamline the refinancing process by:
Offering competitive rates(as low as 6% for qualified borrowers).
Working with all credit types(including recent credit events).
Providing fast approvals(so you can exit your hard money loan quickly).
Customizing loan solutions(whether you need a conventional, FHA, or portfolio loan).
Our experts will assess your financial situation and find the best refinancing option tolower your rate to the single digits.
Steps to Refinance Your Hard Money Loan
Check Your Credit– A higher score means better rates.
Gather Financial Documents– Proof of income, tax returns, and property details.
Get a Property Appraisal– Lenders will need an updated valuation.
Compare Loan Offers– We shop multiple lenders to find you the best deal.
Close Quickly– Once approved, we expedite the process so you can start saving.
Common Misconceptions About Refinancing Hard Money Loans
“My credit is too bad to refinance.”– Even with past credit issues, options like FHA loans may be available.
“Refinancing takes too long.”– With the right lender, you can close in as little as2-3 weeks.
“I’ll lose my property if I don’t pay off the hard money loan fast.”– Refinancing prevents balloon payments and foreclosure risks.
Act Now to Secure a Lower Rate
Every month you delay refinancing, you’re losing money to high interest.e-Finance Mortgage LLCmakes it easy torefinance out of your hard money loan immediately to the single digits—saving you money and stress.
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