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Updated over 7 years ago on . Most recent reply

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George Bronson
  • Salinas, CA
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Recommendations for 5-30 Day TF/Bridge Lenders on an HML Refi?

George Bronson
  • Salinas, CA
Posted

Looking for recommendations of companies to temp fund a Hard Money Refi SFR. I need it paid off by 12/1/17 or I get a massive fee. Hard Money is moving forward on refi, but Title may take too long on their side. Hard Money should come through within 5-10 days. Does anyone know of any reliable fast honest lenders that do this kind of thing? Even if Refi falls through, I have a solid backup plan for 30 days out so max range is 5-30 days. I appreciate any recommendations!

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59
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Eric Loya
  • Encinitas, CA
46
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Eric Loya
  • Encinitas, CA
Replied

@George Bronson Hi George, looks like you have an interesting situation on your hands. What type of 'massive fee' are we talking about- and what's your ultimate goal in the end with this property - i.e. sell or traditional refi? 

Anyway you look at it, this is an urgent request for funding, and even if you're able to refi with another hard money lender there will be origination fees there as well. Perhaps it may be the best to just eat the cost if it's around the same of what a new loan origination may cost, unless you have a private lender willing to step in.

I work with a direct bridge lender in California and we are able to close files in as few as 5 days. Let me know if you'd like to talk.

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