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Both Rate & Term Refinances and Cash-Out Refinances share identical processes, closing timelines, and eligibility criteria, with their primary distinction lying in their purposes. Rate & Term Refinances aim to pay off an existing loan balance while securing a lower rate and maintaining a reduced balance. On the other hand, Cash-Out Refinances are most beneficial when there's available equity in the property, allowing investors to access funds while refinancing.

What can’t you do? Once the loan is complete, the money is yours to spend however you like. Many investors see the opportunity to cash out of a property as a major win, and choose to acquire more rental units, focus on their next flip or new construction project, or treat themselves to a well-earned vacation.

AFC’s Cash-Out Refinance Program follows some of the same procedures and guidelines as your typical bank loan, sharing many of their advantages and a few of the disadvantages. Our refinances have a few distinct advantages including but not limited to; the ability to close quickly (within 30 days), our loans being considered “lite doc” with no tax returns or income statements required, and the fact that our loans are completed to an LLC/Corp that will never reflect on an individual’s personal credit.

As in our rental program, we have a variety on terms that will fit any investors needs. These range from 5/1, 7/1, and 10/1 ARM’s to a 30 Year Fixed Rate loan. In any case, the amortization schedule (how the loan is priced) is set to 30 years, ensuring the lowest possible payment.