Hard Money Loan Recommendations?

Question

I have only been finding hard money loan brokers online. Can anyone recommend me a hml investor around western Massachusetts, northern Connecticut? looking for a few points and between 8-12% interest, at least a 70% LTV loan for purchase price and possibly higher for a rehab. I can get pre-approved for the refinance for the HML.

Michael Doherty · Answer

Hi Cory- I’d recommend @Ryan Deasy I’ve used him multiple times and he’s located in CT.

David Pearl · Answer

Hi Cory! Sent you a DM. Look forward to discussing how we can help you achieve your goals!

Cory Mattoon · Answer

Thank you for all the reply's and recommendations! Will answer the dm's and will let everyone here know who I decided to work with for this project.

Stacy Raskin · Answer

You can get a fix and flip loan for an investment property with up to 90% of the purchase price and 100% of the rehab budget with up to 75% of the ARV. The borrower is coming in with only 10% of the down payment if approved. The number usually varies from 10-20% depending on credit score, property analysis, etc.

Some lenders will work with any level of investor experience, credit scores as low as 660 and can close in as little as 10 days (there are loan options for 640-660 credit scores- they require 20% down).

Another good thing is interest only and 6-24 month loan terms- you can refinance by selling or refinancing to a long term DSCR rental property loan at any time once you complete the rehab.

Happy to connect to discuss further.

Rob Beeman · Answer

@Cory Mattoon I sent you a private message, Rob.

Ryan Davies · Answer

We can help

• •	Rates: 9% to 13% (Most Deals are 11-12%)
• Terms: up to 36 Months (Most Deals are 6-12 months)
• Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
• Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)
• Max Loan: 65%-70% of After Repair Value(ARV)
• 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)
• Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)
• NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.

• We have lending partners throughout the entire United States that cover the following states: AL, AZ, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WV, WI, WY.

Ammabelle Canoy · Answer

@Cory Mattoon I worked with @Ryan Deasy and he's also located in CT, will send you a message! thanks!

Araceli Gutierrez · Answer

I am equipped to provide funding solutions tailored to projects involving property renovation and resale (fix and flip), long-term property ownership (fix and keep), as well as refinancing initiatives. I’d be more than happy to close some deals with you!!

Erik Estrada · Answer

What is the loan amount? How many fix and flips completed in the last 36 months? What is your credit score like?

Hard Money Loan Recommendations?

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