Best Hard Money Rate/Terms in State of Washington

Best Hard Money Rate/Terms in State of Washington

Real Estate Broker · Seattle, WA · Member since 2014 · 1k+ posts · 427 votes

Doing some research on hard money lenders in WA.  The most common I have seen are 2-4% fee, 1-9 month term, 12% interest price point.

The best rates/terms I have found for Washington is:

2% + $1495 fee, 4-12 month term, 9.5% interest

Have you found anything better?

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Rental Property Investor · Tacoma, WA · Member since 2021 · 18 posts · 6 votes
4y
Originally posted by @Charlie Fitzgerald:

We do not require appraisals, and we do not fund in 5-7 business days.  We fund in 4-7 days from the time we have everything form the borrower, the title company and the insurance company for the borrower that we need to do so.  Ordinarily, the entire process without any hiccups will take 11-21 days from start to finish. 

 Thats some great info. How can we connect if we want more information from you?

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  • Lender · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
    9y

    Nope!  We're the best Adrian.  Also, the term is 12 months...you can exit/payoff anytime after the 4th payment with no penalty.  

  • Investor · Pompano Beach, FL · Member since 2016 · 12 posts · 0 votes
    9y
    Hi Charlie, do you do loans in Florida?
  • Lender · Bellevue WA & Orange County, CA · Member since 2013 · 2k+ posts · 1k+ votes
    9y

    @Charlie Fitzgerald maybe price is "best," but how is execution? 

    Can you fund within 5-7 business days with no appraisal and red tape ?

    All things considered of course. I've seen companies that wanted an appraisal and appraisals are running 3-4 weeks up here so having an appraisal defeats the whole purpose of a quick closing in many cases. 

  • Lender · Las Vegas, NV · Member since 2015 · 2k+ posts · 1k+ votes
    9y

    We do not require appraisals, and we do not fund in 5-7 business days.  We fund in 4-7 days from the time we have everything form the borrower, the title company and the insurance company for the borrower that we need to do so.  Ordinarily, the entire process without any hiccups will take 11-21 days from start to finish. 

  • Investor · Seattle, WA · Member since 2014 · 37 posts · 13 votes
    9y

    @Adrian Chu may I ask who you found that gave those terms?

  • Rental Property Investor · Tacoma, WA · Member since 2021 · 18 posts · 6 votes
    4y
    Originally posted by @Charlie Fitzgerald:

    We do not require appraisals, and we do not fund in 5-7 business days.  We fund in 4-7 days from the time we have everything form the borrower, the title company and the insurance company for the borrower that we need to do so.  Ordinarily, the entire process without any hiccups will take 11-21 days from start to finish. 

     Thats some great info. How can we connect if we want more information from you?

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