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10-19-2023, 02:51 PM #1Member
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Need Hard Money Guy in NJ - no docs deal.
I got a fix and flip deal that needs 220k for a HUD property - they have no docs, 768 credit score, 25% down.
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10-19-2023, 06:20 PM #2Senior Member
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NoDoc 75% Loan To Value (25% down) plus fees, 100% Loan To Cost on rehab, 9.95% I/O (Interest Only) in general. Rehab funds go into construction fund with releases. Probably no prepay bridge.
Reach out....need the information below:
Real Estate Intake Form:
Borrower:
Property Address:
Property Type:
Loan Type: PURCHASE / REHAB / REFINANCE
Loan amount Requested:
If Refinance - Purchase Price / Purchase Date / Mortgage Balance
Purchase Price / Market Value:
Rehab Costs:
LTV Requested:
ARV Requested:
Credit:
Experience:
Property Details:Last edited by Olderguy; 10-20-2023 at 11:00 AM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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12-12-2023, 08:55 AM #3Member
Reputation points: 10
- Join Date
- Nov 2023
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- 5
Steve, I have a client who owns an office building in OK with a value of $500k. The property is currently vacant with no tenants. The client wants to pull out 20-25% LTV. I need a funder. any help?
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12-12-2023, 11:47 AM #4Senior Member
Reputation points: 72398
- Join Date
- Sep 2021
- Location
- Irvine, CA
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- 2,244
I looked at it and two issues..low fico and needs rehab. If Fico were 620 or better, possible.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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12-12-2023, 12:13 PM #5Member
Reputation points: 10
- Join Date
- Nov 2023
- Posts
- 5
Thank You Steve for looking at it . . .
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12-12-2023, 12:25 PM #6Senior Member
Reputation points: 72398
- Join Date
- Sep 2021
- Location
- Irvine, CA
- Posts
- 2,244
General guidelines hard money commercial rehab
620 Fico 60% Loan to Value
650 Fico 65% Loan to Value
Guidelines and situations vary...
Reach out...Last edited by Olderguy; 12-12-2023 at 01:59 PM.
Steve Benjamin
Professional Business Loans
522 Contessa
Irvine, CA 92620
steveprobiz@gmail.com
https://probizloans.net/
Broker, Underwriter, general business loan expert
949.228.1050
@ 24 hour funding working capital loans
@ Term loans from 3 years to 10 years at 9.5% and up
@ Equipment financing up to 7 years
@ Property loans - Hard Money and traditional - Primary, Investment, commercial, land, fix and flip, construction.
@ SBA loans - 7A and 504.
@ Private money equity and debt for major investments
@ Personal Loans up to gross income from personal tax return.
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