Florida Cash-Out Refinance Guide with Bad Credit

Posted by Brent on November 28, 2022

Many Florida homeowners have less-than-perfect credit and they try to apply to banks to refinance and get cash out of their homes, condo, or vacation home in Florida. Unfortunately, bad credit, being self-employed, income issues, employment gaps, and judgments or liens prevent them from getting a Florida cash-out refinance or home equity loan. Thousands of Florida homeowners get declined by a bank or credit union each for having made a few mistakes and less-than-perfect credit. We love these customers and we appreciate hard-working Florida homeowners who seeking to refinance but can’t get approved.

Well, homeowners with less-than-perfect credit should try to get hard or private money when they or looking to pull cash out of their homes.

Reasons Homeowners Want to do a Florida Cash-Out Refinance

  1. Debt Consolidation
  2. Pay of IRS Liens or judgments
  3. Purchase another home
  4. Purchase a business
  5. Expand their business
  6. Home Improvement
  7. Debt Consolidation
  8. Investment Opportunities
  9. Pay off High-Interest Credit Cards
  10. Pay of high-interest car or truck loans
  11.  Health care cost

How do I apply for a Florida cash-out refinance with bad credit:

  1. Call a hard or private money Lender
  2. Make an appointment
  3. Fill out an application
  4. Must have Equity in your Florida home, condo, land, doublewide and land, investment property, townhome
  5. The investor will visit your home and give a value; then the appraiser will do an appraisal
  6. Submit income documents/w2s or bank statements
  7. Submit insurance for your homeowners insurance.
  8. Maybe a letter of explanation for the underwriter if he needs clarification on a particular issue on your file.
  9. Order the title and wait on getting a clear title on your home. Possible clarification on any title problems.

Our investors are happy to work with you and provide you with the fastest, most simple cash-out refinance you have experienced. It's based on the equity in your home so there are fewer underwriting requirements and no long 40 to 50 wait times for a closing or waiting all that time and getting declined. A Florida cash-out refinance with bad credit loan is for those clients who are hardworking, very disciplined people that need a second chance and the banks will not help because of strict and rigid guidelines.

Our private and hard money investors will do a Florida cash-out refinance if you have bad credit in All of Florida, they will usually go 65 to 70 Of the value of your home, condo, land or doublewide and land and investment property. Loan terms can vary from 30-year fixed to a five-year fixed , closing times will be 14 days or less, no prepayment penalty for owner-occupied properties, loan sizes with the smallest being 30k up to 5 million for a jumbo luxury home. If you own a jumbo home in Ft. Myers, Naples, Tampa, Orlando, Hollywood, West Palm Beach and Ft. Lauderdale and you have bad credit then you should try to apply for a Florida cash out refinance loan with bad credit. Our underwriters really excel with condo and townhome cash out refinances in Florida and land loans. We will to a land cash out refinance up to 60% of the value of the home.

Why Should You Do a Florida Cash Out Refinance with Us:

  1. Lightning Fast Answers
  2. 2oo years of underwriting experience
  3. No upfront expensive fees
  4. Many times no appraisals wow
  5. Closing in 14 days or less
  6. No underwriting hassles
  7. We will help self-employed borrowers the banks will not
  8. Less-than-perfect credit
  9. You had a previous foreclosure or bk in your past
  10. You own a free and clear home, condo, land, doublewide and land, commercial building and land, investment properties, or mixed-use property
  11. You need quick and fast answers
  12. You need to close to seize another business opportunity

We hope our Florida cash-out refinance guide to getting a loan with bad credit was very helpful. Have a great and wonderful day.

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We do not issue approvals. We are a marketing and lead portal. You will be contacted directly by our private investors. They will call you directly to determine the value and equity in your home and to help you throughout the approval process. Each inquiry is on a case by case basis. Thank you.
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