ag957
491 Posts |
 Posted - 08/27/2008 : 10:52:21 PM
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San Francisco based direct hard money lender. We lend on residential and commercial properties - up to $20M - up to 65% max LTV. If it's a purchase, we want to see the buyer put money into the deal or potentially use another property w/ enough equity as cross collateral - how much we require a borrower to put down is a case by case decision.
To properly underwrite and approve a loan I typically need the following:
- 1003 loan application including schedule of real estate
- credit report
- purchase contract if a purchase
- rent roll/ leases, income/expense statement ( for commercial loans )
- preliminary title report w/ payoffs
- appraisal or broker opinion of value w/ digital photos
- explanation of use of funds, for how long, and exit strategy
We also lend to : FOREIGN NATIONALS, LLCS, PROBATE ESTATES, BANKRUPT PARTIES - all must have provable income streams or assets to debt service the loan , have sufficient equity, and a sound exit strategy.
Also: No Ficos, No Prepay, No Upfront Fee, No Formal Appraisal
Art Gilberg
Trust Deed Investments, Inc. - Direct Hard Money
San Francisco, Ca 94109
Tel: 415-760-2338
Email: agilberg@aol.com |
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