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ted_hicks
5 Posts |
 Posted - 07/31/2008 : 3:14:31 PM
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I have a client whom is in negotiations with their lender to accept a short refi. They need a hard money loan with as high as ltv they can get to present to the lender. Their credit is low 500Õs and have multiple lates on their income property. I can not help this client and would like to pass this file onto a broker whom might. Anyone interested? Please email at ted.hicks@pacificreliance if you are. Please include a brief summary of your experience that I can share with the client before she contacts you.
Thanks,
Ted |
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jloans2003
152 Posts |
Posted - 08/02/2008 : 12:24:28 AM
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| what state is the property in??? what do they owe???value? |
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BBanker_007
218 Posts |
Posted - 08/03/2008 : 4:26:58 PM
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| hello ted i need more information regarding this transaction please provide me with a contact phone number or contact me at 4102948985.we can provide hard money loans for these type of transaction however,we need more information. C.david manns |
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monarchdad
1762 Posts |
Posted - 08/03/2008 : 4:58:36 PM
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If the property is in the Sacramento area - very much a severely declining market - you will not get more than 65% on a hard money loan. In addition it will cost 3 to 5 pts plus whatever the broker wants to make.
Can you really see this deal happening? It won't, drop it. |
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dang007
90 Posts |
Posted - 08/03/2008 : 6:05:13 PM
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Hard Money/Bridge Loans - New York, New Jersey & Part of Connectibut ONLY !
• Interest Rates: 11% - 13%
• Amortization: Interest only – Roll in may be required.
• Loan to value: Up to 75% on income producing properties
• Origination Fee: 2 - 5% taken at closing from the loan proceeds (1-3% Lender Costs)
• Loan Terms: 1 year
• DSCR: 1.3x
• Closing times: 7-10 days ( as long as required docs are
(submitted or it will not happen )
• Loan Size: $1 million to $20 million +
Collateral types that are:
• Office buildings (up to 75% LTV)
• Apartment Buildings (up to 75% LTV)
• Mixed-use (up to 75% LTV)
• Shopping centers (up to 75% LTV)
• Warehouses (up to 75% LTV)
• Owner-occupied facilities (up to 60% LTV)
• Marinas (up to 65% LTV)
• Auto repair/mechanic shops (up to 65% LTV)
• Gas Stations (up to 65% LTV)
• Multi Family (up to 75% LTV)
• Large homes starting from 4 million and upwards (up to 60% LTV)
Collateral types that are not of interest are:
• Land
• “White elephants” (very large vacant facilities)
• Theme/water Parks
• Golf courses
• Non-stabilized/ Unflagged motels/hotels
• Hospitals
• Daycare Centers
• Ground-up Construction
• Heavy industrial facilities
• Assisted Living
Please call or e-mail for document with program
parameters of will be required on part of principal
in order to meet the closing time frame of 7 - 10 days
listed above.
Please go to our website at: www.precisionfinanceandrealtypartners.com for more information
about our company and our wealth of experience in all aspects
of real estate, lending, underwriting,etc....
Best regards,
Dan Garfinkel
Commercial Markets Funding Specialist
Precison Finance and Realty Partners
Tel: (845) 784-6487
Fax: (845) 503-2438
E-Mail: DGarfinkel@precisionfinancenandrealtypartners.com
Website: www.precisionfinanceandrealtypartners.com
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