Cash-Out Refinance Hard Money Loan for SFR in Grayland, Washington

ARCH Loans, a private lender, simultaneously funded two hard money loans in 1st lien position for a productive house flipper in Grays Harbor County, WA. A cash-out refinance of an existing $285,000 loan on a current asset enabled the purchase of a fantastic fixer-upper in the Seattle area. This Borrower was initially short on funds to close the project they had under contract located in the suburbs of Seattle. We provided the cash-out of his equity, which was just what was needed to complete the acquisition and rehab for his new project. With some creative deal structuring, ARCH was able to fund both transactions for the Borrower. This SFR hard money loan was funded in October 2019.