5% IR and 100% LTV, no credit check needed private loan?

[Matthew Terry]

www.springfieldloanfinance.com

Unprofessional website, domain registered in April 2020, logo says "since 2001", reached out to me on Linkedin advertising 5% IR, up to 100% LTV, no credit check, secured. The CEO was a fixture\furniture salesman before he became "CEO".

Many red flags, but maybe this is just a wealthy individual with terrible marketing skills wanting a hobby and I could actually secure a 100% LTV loan at 5% for 25 years interest only? Maybe he has a couple million in cash laying around and doesn't trust the stock market and with 0% interest rates, he is doing this to get some income?

[Mitch Messer]

Hi @Matthew Terry. Sounds a bit sketchy, but fortunately you don't have to wonder or guess!

Ask for the names and phone numbers of 3-5 previous clients and then interview the heck out of these folks.

If he can't deliver this info quickly, then you have your answer: RUN AWAY!