Small-Balance NOO Refi
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  1. #1

    Small-Balance NOO Refi

    Looking for Small-Balance NOO refinance with less than 12 moths seasoning (Acquired in December). Property owned Free & Clear. Loan amount of $75K, and the borrower has 700+ credit scores.

    *Lenders only please reply*

  2. #2
    Senior Member Reputation points: 90564 Olderguy's Avatar
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    So if you don't heard from any lenders, let me know. 10 year I/O around 10.99% NoDoc. Not if it's rural. That may be the case with a $100K value. Rural would be a bridge.
    Last edited by Olderguy; 10-02-2024 at 04:48 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.

  3. #3
    Sounds good. I will keep this option in mind.

  4. #4
    Senior Member Reputation points: 90564 Olderguy's Avatar
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    Irvine, CA
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    3% broker points. I split with the broker. You'll make $1,100.
    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.

  5. #5
    What is the application-to-closing timeline right now?

  6. #6
    Senior Member Reputation points: 16880
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    Jackson Hole Wy
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    Find a local bank to do it, much easier. google all the banks and credit unions within 25 miles. They like these little deals

  7. #7
    Senior Member Reputation points: 90564 Olderguy's Avatar
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    Irvine, CA
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    2,585

    Quote Originally Posted by bmckenzie67 View Post
    What is the application-to-closing timeline right now?
    3 -4 weeks...need apraisal, title, insurance underwriting

    No income documentnatnion loan.

    Banks and credit unions will require full income documentation.

    May not be an issue for something this small.

    650 Fico will get mad ltv.

    620 Fico ltv will be less 10 points on LTV
    Last edited by Olderguy; 10-03-2024 at 03:28 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.

  8. #8
    When you say NOO Refi, is it a Single Family 1-4, it that is the case we can do that at 5.5% to 6.5% Interest on a 30 year fixed. Options for No Prepay. Rates depend on prepay, LTV etc. We pay broker broker fees. Email me the following:
    Property Address
    Purchase Price
    Rehab Amount If any
    Annual Taxes
    Annual Insurance
    Monthly Rent
    HOA if any
    Dustin Tucker
    Midwestern Financial Solutions
    Dustin@midwesternfinancialsolutions.com
    www.midwesternfinancialsolutions.com
    SBA loans - 7A $500k to $7.5m No Minimum Fico Score
    Property Loans- Investment, Commercial, Land, Fix and Flip, New Construction.
    Equity Raises $30M+
    Private Credit $10M+
    Direct Family Office Funding

  9. #9
    Senior Member Reputation points: 7360
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    Boulder, CO
    Posts
    767

    I am a direct lender. Normally do not do the small ones but can if they are easy. Minimum loan $100k though.

    Feel free to email me and I will send you my Loan Intake Form.

    Best,

    Dan Page

    Boulder Equity Partners LLC
    Direct: (303) 938-8280
    www.BoulderEquityPartners.com
    dan@BoulderEquityPartners.com
    BoulderEquityPartners@gmail.com

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