Mortgage broker Barrett Financial Group has announced adding cash-out refinance loans to its list of loan offerings to real estate investors in Arizona.
Barrett Financial now provides real estate investors with hard money cash out refinance loan to assist them in taking equity from an existing property and reinvest it. The firm’s loan process allows clients to close purchases within three days.
The company also offers services including investor education and trust deed investments focused on single-family residential properties across Arizona and California. It recently launched a website for homeowners and brokers, offering digital mortgage.
“In Arizona, and many other states, hard-money loans are a means of financing a real estate purchase or development without many of the procedural hurdles associated with bank loans,” Barrett Financial Group wrote in its announcement. “Private businesses and investors offer hard-money loans on a shorter period, but with higher interest rates and other expenses. Unlike banks, which focus on a borrower's ability to repay a loan, hard-money lenders usually look at the value of the collateral when deciding to make a loan.”