Lending is Available for ALL Buyers!

Hard Money!

Terms:
• Price Range $150,000-$650,000
• Up to 65% LTV (Loan to Value)
• No FICO Requirements
• Rates 10% – 12%
• No aging after purchase to cash out
• Fixer ok
• From complete package 2-3 weeks
• Non-Owner = Stated Income
• IO (Interest Only) with 3 year balloon
• Short Sale/Foreclosure = ok

Example For a $300,000 purchase amount:

35% down:
$300,000 x .35 = $105,000

Interest Only Payment at 10%:
$300,000 – $105,000 = $195,000
$195,000 (financed at 10%) x .10 = $19,500/year

For A Year’s Monthly Payments:
$19,500 / 1 (number of years) / 12 (number of months in year) =
$1,625 per month on a $300,000 purchase

The rates aren’t as attractive so these types of loans are for those who don’t qualify for traditional lending from banks and credit unions.

If you are interested in obtaining a hard money loan, please contact Noble Griswold.

You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments are closed.