[SaraDavis]

Which Lenders do Hard money loans?

[Olderguy]

I do them all with about 25 different lenders....

If it's a basic hard money property loan, I have been doing a lot of them.....have several lenders I use. Some are blanket loans covering all properties with one loan. Some require loan on each property.

You can finance investment property - residential 1 - 4 units, more than 4 units, mixed use properties, land, commercial property, agriculture, etc.

One has no Fico requirements.

Can get up to 75% Loan to Value cash out on these programs. If Fico below 650, LTV goes down.

Here are your options:

Bridge loan - 24 months Interest Only - runs around 11%. Can have no prepayment penalty up to 6 months to a year depending on the lender.

10 year interest only, amortized 20 after. This program has a bit of a lower rate and is good for rental properties as it offers the lowest payment. However, it does have a 5.4.3.2.1 prepayment penalty. Thats 5% first year, 4% second year, etc. You can buy down the prepay to 3 years for 1% cost. To 1 year at a 5% cost. AGain there are variations.

30 year fixed.....this is for long term fixed and the rate is the lowest of the two above. It also has the 5,4,3,2,1 prepayment penalty.

These loans are NoDoc (no income documentation) or SISA (Stated income stated assets)

You can also do a dscr on 1 - 4 units and the rates gets into the 8% range.

Reach out with questions or help.

Lender fees run 0 - 3%
Broker fees usually I charge 3% up to $1M and 2% over $1M
I split with brokers at 50%.

All I need to start is a schedule of real estate - SREO and a Fico score.

https://docs.google.com/spreadsheets...gid=1914226431

[omegafund]

Which Lenders do Hard money loans?

We can fund hard money / private Real Estate Loans
Commercial, mixed use, office, investment, Land
NO Owner Occupied Residential
NO Fix and Flip residential
Guidelines vary on location and property type
$350,000 - $25M

info@Omegafund.com
www.omegafund.com