[KTK]

Interesting scenario and not sure if anybody here does this type of deal but worth a shot. Anybody who thinks they can help please PM me.

Have a client who recently purchased a second property via hard money at 12%. House is worth about $850K-$900K and borrowed $600K to do the deal after putting down $200K for a purchase price of $800K. Has some credit issues with late payments on a prior mortgage which stopped him from going the traditional mortgage route. Other than that clean credit. These issues should be cleared up in about 3-6 months where he can re-fi into a traditional loan.

Currently paying $6K a month interest only and wants to try and get that number down. Basically he wants to borrow $600K to buy out the hard money lenders for more attractive terms and a lower monthly payment.

His profile:

680 Fico
$220K net income
Second property with $300K equity
$200K+ equity in this property

This is expected to be a short term deal as they will get themselves into a traditional mortgage as soon as he meets bank criteria, again, within 6 months tops.

[MoveAhead162@gmail.com]

Please call me at 765-506-8048 to discuss my loan products.

Lorraine

[nmanapat]

Interesting scenario and not sure if anybody here does this type of deal but worth a shot. Anybody who thinks they can help please PM me.

Have a client who recently purchased a second property via hard money at 12%. House is worth about $850K-$900K and borrowed $600K to do the deal after putting down $200K for a purchase price of $800K. Has some credit issues with late payments on a prior mortgage which stopped him from going the traditional mortgage route. Other than that clean credit. These issues should be cleared up in about 3-6 months where he can re-fi into a traditional loan.

Currently paying $6K a month interest only and wants to try and get that number down. Basically he wants to borrow $600K to buy out the hard money lenders for more attractive terms and a lower monthly payment.

His profile:

680 Fico
$220K net income
Second property with $300K equity
$200K+ equity in this property

This is expected to be a short term deal as they will get themselves into a traditional mortgage as soon as he meets bank criteria, again, within 6 months tops.

Shoot me an email and lets talk nathaniel@instafundllc.com

[PC Capital LLc]

I may be able to paulc@pccapitalfunds.com. we can do a collateral deals.