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03-12-2020, 11:26 AM #1
- Join Date
- Nov 2019
- Posts
- 24
rehab loans
I am looking for a direct lender that can finance the renovation of an existing commercial property. The property is located in Houston TX, borrower needs a total loan amount of $600K. Great credit scores.
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03-12-2020, 01:31 PM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,977
Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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03-14-2020, 08:09 PM #3
- Join Date
- Jun 2014
- Location
- Houston Tx
- Posts
- 97
Hey Kelton
If your borrower is looking to buy and rehab
I have a direct lender for this scenario at 65% LTV of ARV
if he/she currently owns the property then I can assist with this deal from that perspective as well.
Rates are 12% for the 1st year and .50 point up after 12 months
Interest onl.
No tax returns
NO DSCR coverage needed
It can be vacant if your buyer can show affordability.
Private money is the ay to go here for speed and ease of use.
Can cross collateralize as well.
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