Mortgage Grapevine

Loan scenario: LA, $$150,000, 550, 50% LTV, Purchase, full, OO

State: LA

Amount: $150,000

Property type: SF

Documentation: full

FICO: 550

LTV: 50%

Occupancy: OO

Loan purpose: Purchase


Need hard money for 24-36 month term up to 15% interest for $150,000 construction loan for $300,000 home. Lot/land is paid for.
by builder5791 November 2, 2009 11:13 PM

Hello
I am a Direct private Nationwide Hard Money Commercial Mortgage Broker with access to over 2500 lenders. We charge No Upfront fees or Due Diligence fees.
I think I can assist you in obtaining this loan.
Below is our Loan program.
Property Types: We will consider all properties except for: primary residences, churches, bars, casinos and adult entertainment.
Lending Area: United States
Terms:
1st mortgages. Generally balloon in 1-2 yrs.
Interest Only-typically with an Interest Reserve to match the term
Rates:
14% Raw land and horizontal development. 13% Vertical construction
Prepayment Penalties: No Prepayment Penalties
Loan To Value:
65% construction/existing structures
55% Horizontal development—infrastructure
50% Raw land
Loan Sizes: $75,000 -$5,000,000
Credit Score: Minimum 600
Doc type: All loans are No Ratio. We will ask for financials but will not calculate income and ratios.
Fees: No Upfront Fees or Due Diligence fees. Brokers Protected

Please provide me with the complete details of your project and loan request.
Bill Moffatt 888-237-2348
bmoffatt@frmortgageinc.com

by Bill Moffatt November 3, 2009 10:10 AM

I can do this deal here. Direct lender. Call us. 215-847-2553

Kyle
by kbolt222 November 3, 2009 12:04 PM

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