A cash-out asks the next lender to pay off the Phoenix note and fund proceeds above that payoff. The appraisal, the debt yield or coverage the source requires, and the prepay on the existing loan decide whether those proceeds exist. Capital Market Funds shops that request. We do not publish a maximum cash-out percentage.
Two prior-firm originations name Phoenix, and both are cash-outs. Harvard Court multifamily, $1,350,000, 2022. Dual-tenant industrial, about 90,000 square feet, $5,000,000, life company, permanent cash-out, 2019. A rate-and-term Phoenix refinance that does not pull cash is still a refinance, and it is not either of these cards. The Phoenix refinance page is the city refinance overview.
Cash-out is a proceeds question, not a synonym for refinance
Step 1
Name what the cash is for
A cash-out refinance distributes proceeds. The source will ask. We do not publish a proceeds table.
Step 2
Stay inside the cities that have a card
Published cash-out examples stay on the city the tombstone names. They are not reassigned to a city that has no card.
Step 3
Occupancy still gates the source
A permanent cash-out needs income in place. A transitional property is not written up as cash-out permanent debt.
Cash-out cards that are not Phoenix
Tempe's single-tenant dental and medical office, $745,000, 2022, is a cash-out, and the address is Tempe. It is on the Tempe cash-out page. Scottsdale Airpark is a $6,850,000 life-company permanent refinance. The purpose line does not say cash-out, so it is not listed here.
The statewide cash-out page includes Phoenix and Tempe together. This page does not. City limits are the point.
What changes the proceeds
Send the payoff, the prepay or yield maintenance, the last appraisal if you have one, and the use of the cash. A life-company industrial hold and a smaller multifamily refinance were both possible in Phoenix. That history is not a quote for the next building.
Agency cash-out on apartments is a program question, not a slogan. Harvard Court is not labeled Fannie Mae. We are not a Fannie Mae DUS lender. If the cash-out the sponsor wants breaks the permanent box, we will say so and talk about a lower proceed or a different source.
Sources for a Phoenix cash-out
| Source | When it fits |
|---|---|
| Arizona cash-out | Statewide cash-out, including the Tempe card this page leaves out. |
| Fannie Mae | Apartment cash-out only when the program allows it. Not a DUS lender. Harvard Court is not labeled Fannie Mae. |
| Bank and credit union | A Phoenix cash-out a portfolio lender will document. |