With housing inventories critically low in Arizona, and cash sales increasing the delayed financing option allows our borrowers to pay cash for the property and then immediately recoup their cash investment.
This option allows a borrower who recently paid cash to purchase a home to refinance it at Purchase rates with no adjustment for cash-out as long as the application for the loan is within 90 days of acquiring the property.
80% LTV up to $1,000,000 loan amount
75% LTV for loans $1,000,001 to $1,500,000
70% LTV for $1,500,001 to $2,000,000
Bob McCormick, President