All Forum Posts by: Lathea Morris

@Michael Frankel you have a few options it just depends on property and personal profiles. Please PM if you want additional information.

@Robert Hetsler Does your client plan to bring any money to the the table? Or, is the plan to only leverage assets to use as downpayment, closing costs, etc?

@James Klafehn instead of financing that requires a DTI, research lenders who do not require DTI but a DSCR. These are mostly private lenders. Yes, the interest rate will be slightly higher. So, crunch the numbers to determine if the financing will work for you.

@John Franczyk don't walk but run away from this which is clearly a scam. Some consider documentation fee to be a junk fee. However, when it is charged, it's paid at closing and not as an upfront fee. Also, $980 is very high for a doc fee associated with a $55k loan.

@Nick Hakim What type of business is the commercial space fitted for? For example, is the space for a restaurant, retail, offices, this will make a difference regarding funding opportunities. In this scenario, you may find that private lenders can offer more options including longer terms and at a decent rate.

Hi @Michael DeFilippo,

Stay motivated and invest smart!

@Michael Vallee Most commercial lenders will not require a W-2. Their main concern will be the cash flow of the property. So, DSCR will play an important role.

Hi @Alex Hamilton

No, not with this loan product.

Are you an experienced fix/flipper?

Do you purchase properties in Arizona, California, Washington, Colorado, Texas, Florida, Tennessee, Maryland, Virginia, North Carolina and Washington, DC.?

If you answered yes to both of these questions, we're offer fix/flip financing starting @ 8%.

Additionally, you'll only pay interest on acquisition costs - no interest paid on the rehab portion of the financing!

More loan features include:

1. SFRs and up to 4 units

2. Loan amounts: $50K - $3M

3. Will lend up to 80% of purchase and rehab costs and up to a 70% ARV.

4. Term: 12 months & No PPP

5. Seconds are allowed

6. Points: 2.50 - 4

7. Middle credit score of 620+

8. Closing in 7-10 days.

Send us your fix/flip loan scenario:

Or, call Lathea Morris @ 973.509.1903 Ext. 1#

Are you seeking conventional financing or financing with a rate between hard money and conventional financing? What LTV are you looking for? What's your credit score?