Hard Money Bridge loan Eval

[Carroll Lee]

These are the terms for a Loan I need to make to get to my deposit total of 120,000.   Please let me know of any lenders that can do better.

95,000 net  $107,495.00 Total Financed Amount.

The original pitch had a 5 year commitment but I immediately told them to change that to a year for me to consider.  

1. This loan doesn't appear on your credit report.
2. No collateral needed to fund this loan.
3. No upfront cost.
4. No penalties to pay this loan off early.
5. Funding in 1-3 business days.
6. Tax Advantages.

Option 1:
$95,000.00 Net Loan Proceeds
$1,901.75 Monthly Payment
120 Month Term
17.49% Fixed Interest Rate
$2,995.00 Documentation Fee
$2,850.00 Reimbursable Servicing Fee
$6,650.00 Optional Limited Personal Guaranty
12 Month Commitment
$107,495.00 Total Financed Amount (Includes Documentation Fee, Reimbursable Servicing Fee, and Optional Limited Personal Guaranty)

[Robin Simon]

17.49% rate is really really high...