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Forums » Seeking Financing, Money, or Loans » Up front fees for 100% loans

Up front fees for 100% loans Subscribe to Up front fees for 100% loans

8 posts by 7 users

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Mario Pau

Real Estate Investor · Los Angeles, California


Forum_avatar_avatar-mamyte

Icon_minipost Feb 21 '09, 03:52 AM

Hello guys,
What do you know about "Remington Financial Group, Inc "? They are in Colorado.
They are promising 100% finance, but they asking up front fee - $15000.
Thank you

Edited: 06/26/2010 at 07:21AM by Mario Pau


Ben Carmona

· Wentzville/St. Louis, Missouri


Forum_avatar_avatar-investment_loan

Icon_minipost Feb 23 '09, 11:04 PM

If you need a hml rehab loan there may be other options for Colorado.

What exactly are you trying to do and why do you need a hml (assuming thats what Remmington is)?

Edited: 06/26/2010 at 07:22AM


Tim W.

Real Estate Investor · Indiana, Indiana


Forum_avatar_avatar-timwieneke
Donor

Icon_minipost Feb 24 '09, 06:28 AM

15k for how much of a loan and is this a sure thing or an AMEX line of credit?

Edited: 06/26/2010 at 07:22AM


Jeremy Turner

Appraiser · Kissimmee, Florida


Forum_avatar_avatar-jturner01

Icon_minipost Feb 24 '09, 09:58 PM

Is this a common thing now? I have found 2 different lenders that are charging a fee just to look at the deals.Seems as though they could easily just come up with some bogus reason that they do not want to do the deal, and your out money.

Edited: 06/26/2010 at 07:23AM


Mario Pau

Real Estate Investor · Los Angeles, California


Forum_avatar_avatar-mamyte

Icon_minipost Feb 25 '09, 03:23 AM

Thank you for replay guys,
I just found info about this company on internet and it seems what they have many disappointed customers. Also they have some problems with FBI. Simple scam.
I need money because I want to buy multifamily apartment building from the bank and I need cash. So, it's why I am looking for 100% finance.
AMEX line of credit. What it is this line of credit?

Edited: 06/26/2010 at 07:23AM by Mario Pau


Benolyn Craig

Real Estate Consultant · Memphis, Tennessee


Forum_avatar_avatar-bcraig

Icon_minipost Feb 25 '09, 07:50 AM

Have you tried to get a commercial loan from the bank? If not, I would go into your local bank and start the process of getting a commercial loan. These loans are different from you typical mortgage and in my opinion they are easier to qualify for right now. I have just recently closed two commercial loans and the experience with financing with very pleasant.

Edited: 06/26/2010 at 07:23AM


Michael Culler

Real Estate Investor · Tampa Bay, Florida


Forum_avatar_avatar-hardmoneymikey

Icon_minipost Mar 09 '09, 05:33 AM

Unless its a very large (multi million dollar) commercial project that you are seeking hard money for, there shouldn't be any up front fees.

Except of course for an appraisal fee.

The larger commercial Hard Money loans may require up front fees for individuals to fly out and do a physical inspection. This is only after you have a commitment, and signed a term sheet usually.

Anything else, proceed with extreme caution, or just avoid it completely.

Edited: 06/26/2010 at 07:31AM


Chad Black

Real Estate Investor · Edmond, Oklahoma


Forum_avatar_avatar-oklahoma_guru

Icon_minipost Mar 20 '09, 05:02 AM

I think that I might have a solution for you. Email me if you have interested.

Edited: 06/26/2010 at 07:38AM


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