Updated about 7 years ago on . Most recent reply
Hard Money wanting 3% to process application
Working with a broker on a business loan. Ltv us 4.3 million asking for 2.2 million for rehab. Have filled out the paperwork to get it started and now the lender is asking for 3% up front in order to process the loan. Said that is locks me in. I am having a hard time processing this ( new to hard money lending) is that normal procedure?