Page 8 - How To Refi Cashout Your Commercial Property Before The Bank Says...
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Chapter 1
What is A Commercial Cash Out Refinance
A commercial cash out refinance is a mortgage loan in which the new mortgage
amount is greater than the existing mortgage amount plus loan settlement costs.
The original mortgage is retired and a new mortgage created, with the difference
between old and new available as cash out to the property owner.
By obtaining a commercial cash out refinance loan, commercial real estate owners
are able to take advantage of trapped equity in their properties and use it for other
purposes.
In contrast with typical banks, working with a private source places no restrictions
on what the funds are used for. Typical bank lenders either don’t allow commercial
cash out refinancing or closely scrutinize what the money is intended for.
Alternative funding sources make the funds immediately available at closing with
no questions asked.
