Mortgage Grapevine


Chicago Il, Commercial fully rented 8 unit with long term tenants (dscr 1.62x) gross annual income is approx 101,600. Loan amount $500K value is $1,115,000. Ltv approx 44%. NOO, Refinance cash out.

Will be paying off 1st, 2nd, credit cards and taking $100k cash.

Need to close by end of October. Wants a 24 months loan with the payments taken out at of loan proceeds at closing. Looking for interest only payments. I have a full package and can email it to you asap.

Apex, Emerald creek, remington neeed not apply. Already approved at 2 other lenders but they're both charging upfront fees.

Thank you
by Dee Lovely 1 October 9, 2009 11:10 AM

Sorry, I forgot to say his fico score is 721 (middle).
by Dee Lovely 1 October 9, 2009 11:11 AM

We here at Athas Capital Group still have a TON of CAPITAL to deploy on specific commercial deals. Please see my attached flyers to see what we are currently lending on, specifically our TROPHY HOME PROGRAM. Call me today to help you get BRIDGE FINANCING for your borrowers. By now, everyone should realize the banks are not lending, we are a viable option and an excellent solution to help solve financial woes on this turbulent market. Call me today!

Properties I love for our fund or our own portfolio:
Multi family-5+units
Mixed use
Light industrial
Student housing
SRO or Boarding houses
Groups of n/o/o condos
n/o/o 2-4 units
Rehabs loans for multifamily.

Properties I will consider:
Mobile home parks
Day care facilities
Restaurants-in conjunction with a capital partner
Churches-in conjunction with a capital partner
Assisted living facilities-in conjunction with a capital partner
Motel and Hotels flagged and non flagged-in conjunction with a capital partner
Gas Stations branded and non branded--in conjunction with a capital partner

Properties I will NOT lend on:
And yes Land
Golf courses-yes even if its Tiger Woods personal course.
Water treatment plants
Fish Farms
Coal deposits
Oil refineries
Geo thermal power plants
Nuclear power plants
Clean green alternative fuel power plants
Cruise ships
Disney Land-yes even if Mickey is going to personally guarantee it.

Up to 65% on really good deals. Embrace that 65% is great for bridge loans and that 65% is a HIGH LTV.

Loan amounts
In house-up to 1 to 2 million and as low as 25K.
In conjunction with capital partners-50 million

Lien position:
1st only


Please email me Lgaston@athascapital.com
by ATHAS CAPITAL October 9, 2009 11:14 AM

i may be able to help here. Please give me a call to discuss further.

Denis Cronin
239 325 9664
by DJC October 9, 2009 11:25 AM

Please submit your loan package to -


Alex Salter
First Vice President
by Concrete Equity October 9, 2009 11:48 AM

Send package to mom.jeh@gmail.com if I can't place it I won't bother you
by jehhardmoney October 9, 2009 12:23 PM

Yeah and I need Meghan Fox and a fat wad of hundreds. When are you morons gong to realize that there's no such thing as what you are looking for? Until then you'll keep getting these junk mail responses
by Marktinker21 October 9, 2009 12:25 PM

The only "moron" I know is the one who doesn't know how to spell a 1st grade word like "going" LOL not "gong!" Get some loans and learn how to spell!!! LOL LOL LOL Say what you want in response because I'm done with you...I have deals to place...too bad you don't!
by Dee Lovely 1 October 9, 2009 2:11 PM

Dee dont forget to come back and tell us if anyone does this loan for you. Im very curious.

BTW Gong is too obvious a mistake to use as ammunition. A simple typo. If he/she had typed goeng, or gowing, for example then we could blame it on ignorance.
by Jose Morales October 9, 2009 4:51 PM

And loans like this do exist. I can't point to anyone doing them in IL but I could if it was the on the West Coast.
by lighthouse1 October 9, 2009 7:38 PM

No upfront fees. Nationwide hard money lender. Email tony_buckman@hotmail.com.
by tbuckman October 9, 2009 10:05 PM

Please send me a copy of your 1003, appraisal,and tri-merge credit report. I Will provide a response within 8-48 hours.
Can close certain deals within 7-15 days with a full loan package !!
Prefer credit scores at 640 and up. Can assist with credit repair with my team of lawyers. Work with new loan officers and new investors. You pay as the work is completed.
Loan To Value 65-97 Percent
Terms up to 30 years
Loan Amount from $100k - $500 million
These are the following states we specialize in for blanket loans:
A. Kentucky
B. Indiana
C. Ohio
D. Texas

Blanket Loan Program Requirements

1. Minimum Loan Amount : 100K
2. Credit Score: 640
3. LTV 80% Rate & Term, APR 6.75%, Up to 30years
4. LTV 70% Cash Out
5. LTV 75% Purchase
6. No Title Ins.
7. All partners must be listed on LLC
8. Appraisals will be ordered by the lender on each property: Cost ($350.00-$400.00)
9. Broker Price Opinion (BP0)
10.Items: Full Docs: 3yrs taxes, 4 months bank statements

I am a hard money broker and private investor.Fund and underwrite small balance commercial loans , MOBILE HOME PARKS , APARTMENTS , And OFFICE BUILDINGS , any properties with CASH FLOW are what I love.
Venture capital and acquisitions are also welcomed.
Fund nation wide deals. Have affiliates and partners with deep pockets.
Call John at 210-949-1337.Located in TX.

Send scenario to americanherofinance@gmail.com
You may review my website at www.americanherofinance.com

by johnhstallings1959 October 10, 2009 2:55 AM

Hello,I am a Hard Money Broker, NO UP FRONT OR DUE DLIEGENCE FEES, EVER, all payments taken at closing, I am direct to an investment group that pays me. Let me know if I can help
Dennis Touchette
New England Valley Mtg & Fin Ser.
by dtouchette@cox.net October 10, 2009 8:25 AM

Submit 1003, credit, appraisal and Income: Must be full doc with 2 yrs Business or personal tax returns.

Jackie A Graves
Changemyrate.com - Since 1989
Click Here

by changemyrate October 11, 2009 4:57 AM

Jose, I'm working with Omega Funding and so far so good. I've constantly asked if my client is getting charged an upfront fee and so far no fees. We have the LOI (no fees listed and all my client has to do is sign the NCND and return it back). I even asked if he's going to have to pay fees with the final commitment...still a "no." Ben has worked with me throughout the weekend to get the approval and get this done by the end of the month. I will keep you posted!

And the property is located in IL.

by Dee Lovely 1 October 11, 2009 6:43 PM

Here are the terms, 12% interest only, 5% equity partnership, and 4.5 points. Application fee of $195, approval, or your money refunded. Upon approval, 1% for commitment fee, credited at closing, can close within your time frame for sure if received this week. I am direct too the private investor with references including contact numbers for your comfort level.
Ken Egri
by ken egri October 12, 2009 2:32 PM

Wow. There may be some Pearls in this thread.
Ken, if you can deliver as promised, and, are not a Con Artist, I think your response is excellent. I wish you well and success.

Dee Lovely, many of us are waiting to hear first hand, if Omega can fund. A small hesitation, there was a Con Artist, that Posted here, for 2 YEARS, that ultimately worked for (this is by memory, could be wrong) Omega Fund, out of Florida. The Owner's Son had spent time in Prison for Fraud, pretty sure it is not the same people, Hope and Pray your guys are real and your client gets the money by the end of the month. We need MORE real, Non-Up Front Fee Thieves around here.

Short version, let us know, Please if Omega delivers, I for one, will send them Business.
Tired reading Posts from 95% of the respondies here, that are either flat Liars, uninformed Idiots or Fee Thieves.

Thinking of how I can send a Bunch of these people to Nigeria. Coals to Newcastle?
by Commercialmoney4u October 12, 2009 3:20 PM

Ken, please give me your email address and we can chat via email.

Commercialmoney4u we'll definitely see what happens and I'll keep you posted. My client and I will be reviewing the LOI this afternoon and he probably will sign. Now we get down to the "nittg gritty" and find out if Omega Funding will put their money where their mouths are!

If we can find one commercial hard money lender that actually closes a deal then it'll be worth wading through all the B.S. companies that advertises on here.

As always, I'll keep everyone posted!!

by Dee Lovely 1 October 13, 2009 2:51 PM

This looks like something I can get done with my investors. Depending on the situation, they will accept files without credit and their rates are very competitive. The only thing I would need is a full 1003 and an executive summary. If you would like to go over this deal email me or call me and let me know. I deal with a lot of investors in the NY and NJ area. Capri1consulting@gmail.com 908-377-0124
by capri1consulting October 14, 2009 11:59 AM

I am a broker here in Chicago and I have a client that is wanting to get a loan to complete consrtuction on his investment property. However he simply does not want ANY Upfront fees no matter how small or if it is given back at close. He will however pay what he has to at the close or take out of the funds. I have direct contact with him daily and have a complete executive summary with pictures and pro forma for review. What he is asking for is:

An interest-only construction loan for a real estate redevelopment project located at 1929 W. 43rd St., Chicago, IL 60609 for the amount of $3,880,000 which includes payoff of existing loans, funds for construction and a 2 year interest escrow fund account to be held with lender. The purpose of redevelopment is to finalize the conversion of an existing warehouse into loft-style office space. The offer includes an interest only loan for a 24 month term with interest rate, fees and payments to be determined. A first lien position to collateralize the real estate and improvements is being offered as security for of the loaned funds. A construction to permanent financing vehicle once building is stabilized would be preferred.

There is an existing loan in first lien position for $1,083,000 with another loan in second lien position of $800,000. The construction loan will eliminate existing liens and provide $1,521,000 for construction and leasing costs. The final loaned funds will be absorbed with a 2 year interest escrow fund account of $476,000 held in lenders escrow and set-up with automatic withdrawals to fund the loan interest while the project proceeds through construction and is stabilized.

The As-Is value of the building is approximately $2,800,000 providing an existing Loan to Value (LTV) of 67.25%. The existing net operating income (NOI) of $227,550 provides a Debt Coverage Ratio (DCR) of 1.46 including 21% deduction for building expenses.

Once construction and leasing is finalized within 12-24 months the Stabilized Value is estimated to be approximately $9,000,000 based on an 8% capitalization rate and comparable studies of similar conversions. The stabilized LTV will be approximately 43% providing over $5,000,000 of equity. The building will reach a break-even (B/E) analysis of less than 30% occupancy, which includes all costs, expenses, and debt service. Considering the comparable market rent rates of $12.00 per square foot for office-lofted space the gross rents will be $1,296,000. After a 35% deduction for building expenses the stabilized NOI is $842,400 annually. This provides a DCR over 2.55, providing more than sufficient cash flow to service the debt.
In his words NO GAMES Either you can or you can not if not do not even bother to ask to review. He is looking for direct lenders. Broker chains SORRY been there done that and no thank you is all you will receive. E-mail me at xavierkenyatta@yahoo.com time is a factor and if this works out there is plenty of more business to follow.
Thanks and be safe everyone this holliday weekend comming.
by xavierkenyatta October 22, 2009 3:02 PM

Has anyone bothered to call and speake to Omega Funding? Well I did and here is the WORD from them. If you are in Colorado ( loan that is) you may not have to pay up front fees. WOW did I say may not? Yes I did! Omega has changed how they fund and it is even on their website. Also in speaking with a AE, I was told that outside of Colorado the upfront is between $1,500.00 and $2,500.00. SO now you all call and or go to hte website and see for yourself. Me? I call and get the info for myself sstright from the horses mouth. So no matter what anyone says here it is the company that is saying different from what people ae saying here.

In short my time was saved and waisted. What would you all do? The fee mongers are here as well as any place. So checkem' out good.

Thats all..Oh yes and I will be looking at all the links here to see who is doing what they say they are doing. I am not going to waist my time chasing some unprofessional comments made here I am checknig them out first and letting the posts know the real deal.
by xavierkenyatta October 22, 2009 3:32 PM

Commercialmoney4u.com I went to their site to see what they have to offer. Here is the real deal. Does anyone have an international dialing plan? Well what they have posted is their number and mailing address in the UK. Thats right they are located there and you can email them ok but to call and speak direct with someone I think wyou have to go throught an international operator. Go ahead look for yourself and by the way it is even in their email Commercialmoney4u.co.uk that is right in the United Kingdom and they even direct you from that site to this>>>> VISIT OUR MAIN SITE: WWW.PLATINUMCORPORATE.CO.UK<<<< so here lies the question? can commercial money 4u even fund here in the US? And if so how do you get in contact with whom ever to even get started? They even re-direct you to another site which I never got access to it stated the page is not there....

All I say is do ya home work. I need loans funded and I need lenders that do not have up front fees.unrealistic "JUNK FEES" and what have you. Banks are not doing too too much of that now as well as other things. So if anyone knows of lenders hard or conventional let me know and just maybe we can work something out.
by xavierkenyatta October 22, 2009 4:31 PM

ATHAS CAPITAL; You took the "Deals We Want and Don't Want" from Obsidian Global Group and just copied and pasted the ad as if it were your own. And folks wonder why there is so much b.s. in this industry. Folks, just go direct to: www.obsidian-global.com and bypass one more pseudo "lender".
by CommercialLoanBroker1 November 11, 2009 4:24 PM

CommercialLoaBroker1, the problem with what you said is that in Obsidian's "Borrowers Lie" section on their website, there is a section about a borrower (Nnamani) that indicates "Athas" as the lender involved. It's hard to say for sure but it looks more to me like Obsidian copied their "Deals we want" section from Athas rather than the other way around. Or there may be an entirely different explanation. I don't know either lender so I am not trying to bash either one. Just pointing out something that is unclear or is a discrepancy.
by lighthouse1 December 6, 2009 9:31 PM

Copying the efforts of one's own is a great form of flattery.
by AthasCapitalGroup December 14, 2009 2:26 PM


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