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cash loan lenders
Can you recieve cash back at closing if the loan amount is more than the sales price?
This is referring to using a hard money lender. If the loan is 84k and the sales price is 69K can you get cash back to start repairs?
I recommend that you disclose this to the lender. Many lenders prohibit the practice.
If the cash is for repairs, the lender will probably want the money held by the title company in escrow, to be paid to the contractors as they finish the work.
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