Refinance
The after-repair value, the new loan and how much cash the refinance returns or requires.
Refinance plan
Your entries are kept if you turn this off. Results then assume no refinance.
After-repair value
What the property should be worth once it's renovated and rented. Enter your own number, estimate it from the rent with a cap rate, or compare the two.
Around 7% is a common starting point in Windsor-Essex right now.
Once rents and expenses are entered, this will estimate the value from the property's income.
Loan size
The new loan is the lowest of the loan-to-value limit, any lender dollar cap and any amount you choose.
Lenders commonly look for around 1.23 or higher. Check with yours.
A maximum loan amount from lender feedback, if you have one.
If you prefer to borrow less than the maximum.
Loan check
Once rents and expenses are entered, this will show how big a loan the rent can carry.
Refinance, step by step
Based on the assumptions entered. Actual results may vary.
New loan terms
Refinance month: not set · change on Renovation & timeline
Refinance costs
Appraisal, legal, lender and discharge fees. Enter 0 if none.
Enter any penalty or discharge fee on the purchase loan under acquisition financing.
Cash after the refinance
Replacement reserves always stay in the project.