Looking for hard money lender, have everything ready. Need 1,556,000.00 buyer will put 30% down. He is sold on 3 points on the loan.
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Looking for hard money lender, have everything ready. Need 1,556,000.00 buyer will put 30% down. He is sold on 3 points on the loan.
I have guys who can do 80% LTV purchase but won't be 3 points. What kind of property and what state?
3 points is the fees, the rates 10s to 11s
There are lender fees and broker fees. Total is usually 5 points. I don't know of any hard money lenders that will have total fees at 3 points. Which suggests you have made an agreement with client with not enough information on how fees are determined for hard money loans...correct? And you still have not stated the location of the property and the type of property. Or LTV.
We do a lot of hard money commercial real estate loans and land loans. It all depends on the property type and location. Hard money lenders can be very location specific for deals.
Ben Zuniga
720-279-4345
bzuniga@omegafund.com
www.omegafund.com
There is no need for private money in this current market unless the file is complete dog ****. If the property is NOO and it falls within 1 of the 18 states that does not require a lic, I can send you the list, you can book this deal yourself. NonPrime money is institutional money, therefore no lender points and the majority of my NOO pipeline is getting booked in the 4's on 30 year fixed, stated, stated, stated. Reachout with any questions.
I have a deal I am doing right now. $800,000 cash out loan amount, CA Duplex NOO (Non Owner Occupied) 59% Loan to Value 4.85% Interest Only for 10 years. 5 year prepay. Stated Income, Stated Assets. Total points 3.5% 1.75% to lender and 1.75% to broker.
Give me a call, I have quite a few cash buyers that may be interested in something like this.
Brian Gibbs
310.435.9950
I have already discussed this file involving the buyers/sellers agent
Buyer needs hard money 75% and close in a week. No credit using appraisal.
This is what I got...
- Rate is 9.99%
- LTV is 65%
- Points are 2.50% lender, 2.5% broker.
- 12 - 24 Month term
- Close in LLC w/ NOO Disclosures
- No DSCR Requirement / No Min Credit Requirement
- Current Appraisal can be used with site visit or Broker confirmation
- 7 Day Close
Lender working on getting LTV to 75%
Hi There - My name is Steve, my company is BizConnect and I’ll keep this quick.
We are running scalable Lead Generation platforms for some of your competitors that are performing VERY well.
I can explain the process in 10 minutes or less and have leads flowing to you and your team within a few days if you like it.
It works for all financial service businesses including Merchant Cash Advance, Invoice Factoring, Equipment Financing, Hard Money Lending, Residential Mortgage and more…. Basically, for any business that needs Exclusive, Real Time Leads, Clients, Customers, Patients, etc.
If you could find some time this week or next, let’s meet and talk for a few minutes to see if it fits your business – I think you’ll love what we do….
Here is a link to my Calendar, let me know when you are available:
https://calendly.com/steve-0412/free...&month=2022-02
Thanks,
Steve
Depends on state and type of property - Is it commercial or residential?