Residential Real Estate Broker · Winston Salem, NC · Member since 2017 · 15 posts · 1 vote
Has anyone dealt with Direct Lending Partner? Talked to them today about their program. They offer lines of credit so you can move quickly and have a less detailed process to get funds each deal. They do have some setup fees to open the line of credit but, once that is done, the origination fees and interest are good compared to other hard money sources I have seen.
Lender · Chicago, IL · Member since 2015 · 608 posts · 70 votes
9y
1% fee of what? $500,000? Are there any other fees upfront? There are better sources in the industry that off no fees upfront and up to 90% ltv or 75% Arv. Rates between 7% to 10%.
Lender · Plymouth Meeting, PA · Member since 2017 · 26 posts · 18 votes
6y
Hi Ricky,
Thanks for reaching out. We have a variety of loan products including a LOC program, so the rates and vary based on your qualifications and investment strategy. Most of the information that you're looking for can be found on our website, under the "Loans" drop-down and subsequent webpages.
We'd be happy to give you more specific information catered to you needs and qualifications. Feel free to send me a DM, or you can find my contact information on the website as well.