[North Coast Financial]

Have a request that needs a hard money lender who is able to lend on owner occupied in Washington State. We are able to do owner occupied hard money loans in California but not WA.

Free and clear property worth $425k+. The borrower needs around $60k

Looking for reasonable interest rate and points (~10-12% and 3 points) for 12 month loan.

Please email me directly jeff@northcoastfinancialinc.com

[Zach]

WBL is one of the only options for owner-occupied deals in the majority of the 50 states.

Our rates will be in excess of the numbers you are putting out there, but it might be the only option.

[Loan Advisement]

I work with a good friend who has been hard money lending for 8 years. Extremely successful. Zach is correct. Its going to be hard to get this done if its owner occupied .

[RichardGerard]

Jeff,

The reason this one is challenging is that it is owner occupied. If it were an investment property any number of folks herein could assist. If he were to 'sell' it to an entity, and that entity had an interest in fixing and flipping it, there are numerous folks that would be able to assist as well.

It's all about how the transaction is structured..

[biggr]

Free and clear!! Why not just go to the bank for a LOC??? 15 to 20% LTV seems like a no brainer unless there is some underlying factors...

[Jstarr]

Any bank would provide a loc on a free and clear property, problem is the closing times can exceed 45 days - on the other hand i could offer 10% IO and steer you in the right direction to obtain conventional financing to take us out within 6 months...