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08-16-2017, 11:28 AM #1
- Join Date
- Jan 2014
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- 1,375
real estate as collateralq
Can any lender use equity as collateral besides WBl?
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08-16-2017, 11:32 AM #2
- Join Date
- Jan 2016
- Posts
- 435
Lift Forward
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08-16-2017, 11:36 AM #3
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- Jan 2014
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- 1,375
thank you
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08-16-2017, 11:46 AM #4
- Join Date
- Feb 2017
- Posts
- 3,429
There are also tons of hard money lenders, and bridge-loan people. As long as the credit is 600+, there should be a lender. 650+ is an easy lender, FYI.
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08-24-2017, 01:51 PM #5
- Join Date
- Aug 2015
- Location
- Boulder, CO
- Posts
- 755
I know this is kind of an old thread, but thought I would note that I fund a LOT of real estate deals. Rates ranging from 6% - 12% APR.
I am funding the real estate though...not the business. This can quite often be a boon for clients that are struggling with their business but own real estate.
I pay off any existing mortgages and provide cash out on top.
Low FICO is not necessarily a deal killer at all. Just funded two of them with FICO in the 500s. Funded one a few months ago when the client was actually in bankruptcy at the time.
But if the client is late on their existing mortgage, THAT would be a deal killer.
Feel free to reach out and discuss.
Best,
Dan Page
Direct: (303) 938-8280
dan@BoulderEquityPartners.com
www.BoulderEquityPartners.com
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