All Forum Posts by: Johanna Fonseca

Hey all! I am a hard money lender/mortgage broker and I am struggling to place a loan, figured I'd come here and ask around. (don't know if the loan is even possible-but gotta try right?!)

I have a client with perfect credit/income, has a house (his primary) worth $22m and is looking for a $5m 2nd mortgage for a combined LTV of 60%. Are there ANY lenders that'll do a 2nd loan that high? I can't find any...

Any help is appreciated. 

Thank you! 

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Up to 80% LTV, Rates from 6.185%, credit scores as low as 620.

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There's many different factors that go into it as well as a variety of programs that are available so I would need a bit more information. It could be as low as 6.25%. It really is on a case-by-case basis. If you would like more information specific to your case, please feel free to give us a call at your convenience. 

Hi Michael, 

hard money refers to a  non-institutional loan usually funded by a private individual's personal money. These loans are normally short-term, quick closings, higher interest rates but also much less restrictions than you would get with a bank loan. Typically with a hard-money loan, the lender will only look at the collateral and the equity in the property. Feel free to ask me any more questions you may have. 

Hello everyone! 

My name is Johanna Fonseca and my company does hard money lending in Florida. I have been a member of Biggerpockets for a while now but am just now starting to participate in the forums. Can't wait to learn new things, improve my business, and get to know you all! Networking is a vital part of working in real estate and this is a wonderful way to do it that i have not been utilizing.