Results 1 to 7 of 7
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07-19-2016, 01:49 PM #1
- Join Date
- Jun 2015
- Location
- San Diego, California
- Posts
- 40
Subprime lender needed for large owner occupied loan in Oregon
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
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07-19-2016, 02:01 PM #2
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
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
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07-19-2016, 02:45 PM #3
I can take a look at that for you. Pl give me a call/email. Thanks
Regards,
Matthew A. Stucchio
Associate
World Business Lenders, LLC
120 W. 45th St.
5th & 29th Floor
New York, NY 10036
Main: (212) 293-8200
Direct: (212) 220-6018
Fax: (646) 417-7161
Email: Mstucchio@wbl.com
www.WBL.com
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07-21-2016, 01:36 PM #4
- Join Date
- Jun 2015
- Location
- San Diego, California
- Posts
- 40
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
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07-21-2016, 03:49 PM #5
- Join Date
- Dec 2014
- Location
- Quogue, NY
- Posts
- 1,108
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
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07-22-2016, 12:50 AM #6
- Join Date
- May 2016
- Location
- New Jersey
- Posts
- 31
6-8% ?? LOL.... I'm at 13+1
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07-26-2016, 02:17 PM #7
- Join Date
- Jun 2015
- Location
- San Diego, California
- Posts
- 40
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.
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