We have a new private lender on board looking for EXPERIENCED residential rehabbers and investors wanting to purchase or refinance residential income property.
This lender’s rate and terms include:
• $50-$100k loan
• 3-12 month term
• 12% interest
• 2 points upfront (plus broker fee)
• Interest only payments during term
• 65% ARV
• First and only note holder
This lender wants to make sure the borrower has “skin in the game”, so unless the deal is well under the 65% ARV mark, plan on bringing some cash to closing. The lender is not particularly concerned about credit, but we will use 600 lowest FICO score as a guide for determining qualifications.
If your project falls somewhat outside of this range, don’t be discouraged. We have a wide variety of lenders awaiting your good deal.
Click the link to the right to apply, or call Liz Nichols at 319-359-0656.