Real estate backed loan. looking for 120,000k. 720 credit
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  1. #1

    Real estate backed loan. looking for 120,000k. 720 credit

    Hello

    I have a Merchant with 720 credit and wants to put up a duplex he owns as collateral (No positions on it). Looking for 120,000. Anyone have a contact or lender that can do this type of deal?

  2. #2
    Senior Member Reputation points: 218103
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    What's the property worth and where is it located?
    These types of deals are slow, but these guys are squirmish with rates because they're used to banks at 4%. If the client can deal with 5's or 6's, let me know. You won't be able to compete with a bank.
    If he wants unsecured LOC with rates in the 3's, also email me and I can help.

  3. #3
    Call Mike at Velocity they do loans for as low as 75k

    Miguel (Mike) Morales

    Account Executive

    Velocity Mortgage Capital
    NOW OFFERING BROKER REBATES!!!

    1395 Brickell Ave Suite 800
    Miami FL 33131
    Tel. (305) 421-9063 xt 663
    Cell. 786-877-9402
    E-mail: mmorales@velocitymortgage.com

  4. #4
    Senior Member Reputation points: 11375
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    Quote Originally Posted by Igm View Post
    Hello

    I have a Merchant with 720 credit and wants to put up a duplex he owns as collateral (No positions on it). Looking for 120,000. Anyone have a contact or lender that can do this type of deal?
    Sent you a PM.

  5. #5
    If you want to ACTUALLY get this done email me
    Kgrant@BesCapFinancial.com

  6. #6
    Quote Originally Posted by abfunders View Post
    What's the property worth and where is it located?
    These types of deals are slow, but these guys are squirmish with rates because they're used to banks at 4%. If the client can deal with 5's or 6's, let me know. You won't be able to compete with a bank.
    If he wants unsecured LOC with rates in the 3's, also email me and I can help.
    Micah, if you can do 5s and 6s send me something to read. You got my email.

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