[Olderguy]

Ok....see if this is within the forum guidelines

If any of you brokers need FREE HELP on any loans, reach out and I'll give you some guidance about loan products, guidelines and qualifications.

Any of you have a problem with that?

[mistamca]

If only you could put it where it belongs, promotions.
Let's be honest. It is "free". You are still going to charge something to broker a deal.

[Olderguy]

Nope...just free advise....I do it all the time....brokers just want help and advise...

Mostly real estate, but also SBA and and other options too - they just don't know guidelines and if people qualify or not.

So here's a start....

Hard money property loans...

You can go full income documentation - requires income tax returns and pay stubs

SISA - Stated Income Stated Assets..you put in income that is basically fits within your job description.

NoDoc - no income documentation required.

DSCR - Debt Service Coverage Ratio....some hard money oenders will do that with just lease agreements....this is the lowest rate of the no document loans but it's fixed for 30 years and requires a 5 year prepayment penalty.

I try NOT to recommend bridge loans for hard money. I think the best option is a 10 year interest only that converts to 20 year amortization. Right now that 10.99% But these have 5 year prepayment penalties that can be bought down to 1 year prepayment penalty with a cost of 1.5%

DSCR is the 7.25% range 30 year fixed believe it or not. Again 5 year prepay.

[Michael I]

Who is your favorite funders for this NoDoc - no income documentation required?

[Olderguy]

I have about 20 different ones. Depends on the scenario.

Here's one source:

https://privatelenderlink.com/search/

Another:

https://www.funderintel.com/top-comm...estate-lenders

Scotsmans guide is another although I have not had good luck with them...I might sent email to 6 - 7 lenders that come up in a search and I'm lucky if I hear from just one