PRIVATE-HARDMONEY LENDING ( 100% )

* 100 Financing
* NO 1003 Credit Application
* NO Credit Check,Minimum Score
* NO Tax Returns,Bank Statements,W-2's
* NO Income Statements
* NO Seasoning of Funds,Documentation of cash for closing
* NO FEE Loans
* Low Mortgage Rates,Interest Only,six month moratorium on payments after close

Contact Joe or post your comments here.

Good day to all...

Edited: 06/26/2010 at 03:24AM

Chris Sanders

Real Estate Consultant · Forest Park, Illinois

60 posts
10 Influence

Icon_minipost Feb 25 '07, 11:08 PM

First off, there are no 100% hard money lenders, anywhere. If you have a particular scenario in mind, you can run it by me. I'm a broker/banker for Concord Mortgage Company. I can do the following:

100% Financing
No Doc's
Equity Participation
Commercial Financing
Residential Financing (50 States)
Mezzanine Financing
Bridge Loans
Construction Loans
Church Financing

Edited: 06/26/2010 at 03:24AM

Ben Carmona

· Wentzville/St. Louis, Missouri

359 posts
14 Influence
1 Award

Icon_minipost Feb 28 '07, 07:14 AM

Mortgage Monkie.

What do you mean there are no 100% HML?

I refer clients every week to lenders nationwide who will consider doing 100% HML.

These are based upon the after repaired value and will cover the purchase, fix up, costs, and some times even payments.

Edited: 06/26/2010 at 03:24AM

Scott Miller

Real Estate Lender

642 posts
63 Influence
2 Awards

Icon_minipost Mar 01 '07, 12:04 AM

Said differently, you can acheive the " equivalent" of 100% financing with ARV based HM rehab loans.

As long as the sum total of the purchase price + rehab costs + closing costs (and sometimes deferred payments) doesn't exceed the max. ARV allowance (usually 65-75 with hard money loans), 100% financing can be structured.

As to the HMLs that are LTV based, 100% financing is not a reality.

Regards,

Scott Miller

Edited: 06/26/2010 at 03:24AM

Ben Carmona

· Wentzville/St. Louis, Missouri

359 posts
14 Influence
1 Award

Icon_minipost Mar 01 '07, 12:44 AM

It is a reality for some...seller held 2nd!

Edited: 06/26/2010 at 03:24AM

Scott Miller

Real Estate Lender

642 posts
63 Influence
2 Awards

Icon_minipost Mar 01 '07, 01:23 AM

I realize that...in the context of getting 100% financing from a hard money lender, it is not possible...In instances where seller seconds are allowed, a borrower could only expect to get up to 70 LTV from the hard money lender...

Regards,

Scott Miller

Originally posted by "Investment Loans"

It is a reality for some...seller held 2nd!

Edited: 06/26/2010 at 03:24AM

Chris Sanders

Real Estate Consultant · Forest Park, Illinois

60 posts
10 Influence

Icon_minipost Mar 01 '07, 10:06 PM

OK...I should have clarified. 70% ARV is possible which could be interpreted as 100% financing, but you know what I meant...

Edited: 06/26/2010 at 03:24AM

Joseph DeFranco

· Franklin Lakes, New Jersey

18 posts
6 Influence

Icon_minipost Nov 12 '08, 01:36 AM

I can do 90% on commercial short sales hard money.

- Joseph DeFranco

Edited: 06/26/2010 at 06:21AM by Administrator

Jason T.

Real Estate Investor · Mission, Kansas

67 posts
298 Influence
3 Awards

Icon_minipost Dec 15 '08, 06:28 AM

I'm looking for hard money lenders as well. I have found a few with decent terms but they are the worst with customer service. I have a house closing in 2 days and they haven't even called me back (after many messages and emails) to tell if they'll be able to do it. I was pre-approved 10 days ago!
The other companies that have good systems and customer service are too expensive.

Edited: 06/26/2010 at 06:40AM