Updated about 10 years ago on . Most recent reply
Sherman Bridge Loan - 6.99%
Has anyone heard anything about Sherman Bridge Lending offering a 6.99% loan on rehabs? I got an email from them saying they offer lending on rehabs for 6.99%. Is anyone familiar with this program or have you used Sherman to finance any of your flips?
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Sherman is a pretty large company. They source their funds from wall street instead of private and bank financing which is why they can offer 7%. You will have to pay points though and to qualify for 7% you need good credit and assets. We have sold a couple deals to clients that used them and have not had a problem. Our experience with them has been positive so far on the sell side. We have never borrowed money from them.