Hard Money Lenders that Finance Payments Into Loan?

Looking to get a contract on a $450K row house in DC, motivated seller needs to move into new home in GA by the end of this month so she will unload for $325K, maybe less. I’m gonna do a split funded offer giving her a seller carryback note for the difference, so the hard money loan won’t exceed 60-65% LTV. House is in good condition, no work needed.

However, with this being my first deal, I won’t be able to afford more than one month of that great big hard money payment, even if it’s interest only. My exit strategy is to retail it quickly to an owner occupant or another investor, but if it takes too long to sell I won’t be able to cover more than a payment.

Anyone know of a hard money lender who lends in DC that will finance the payments into the loan?

Also, do hard money loans in general accrue interest in arrears like conventional loans? If so I should have at least a month before the first payment is due even if I can’t get the payments financed into the loan, and that could give me enough time to unload this puppy.

Thanks for the help in advance!

Yes, depending on your situation (this sounds like a good one) some of my lenders will finance 3-6mths of interest payments in reserve. Generally, points are high. That being said, you should be prepared with 10% down on the contract and/or part of the closing costs. I hope this helps.

Have you got this done yet?