[North Coast Financial]

Have a large refinance request ($2m) on an owner occupied luxury property in Oregon. Credit scores around 650. LTV is around 30%.

Have the complete package together but the underwriter we were using looks like they won't be able to perform now.

Looking for reasonable subprime rates.

Please contact via email: jeff@northcoastfinancialinc.com

North Coast Financial, Inc.
Private Hard Money Loans
2424 Vista Way #202
Oceanside, CA 92054
760-722-2991

[RichardGerard]

reasonable and subprime in the same sentence rarely collide...

Suggest to post on the Scotsmanguide.com.. Look for a Hard money player in Oregon.. Owner occupied might be a deal breaker though

[MatthewAStucchio]

I can take a look at that for you. Pl give me a call/email. Thanks

[North Coast Financial]

Reasonable as in 6-8% rather that 10%+.

Yes, Scotsmanguide is good resource for this. Already did a search there and found a few potentials.

Thank you,

North Coast Financial, Inc.
Hard Money Lenders
2424 Vista Way #202
Oceanside, CA 92054
760-722-2991

[RichardGerard]

North Coast: Not really the space for this type of deal. Honestly though to expect 6-8% Hard Money on an Owner Occupied property isn't something that you will be likely to find anywhere- unless from a family member.

The biggest issue is the time it takes to foreclose on an Owner Occupied Property should the loan go sideways.

If you have someone at 12/4 for 12 months with an option to buy up to 24 take it- before they realize they're making a mistake

[fundmybusinessloan]

6-8% ?? LOL.... I'm at 13+1

[North Coast Financial]

I understand that 6-8% hard money doesn't exist, which is why the posting repeatedly said subprime.

6-8% for subprime wholesale is very doable.