A little help here. Looking for a NOO loan for the Riverside area, interest only, no less than one year balloon. Favorable terms for the lender. $130k range. Thanks
Your not really giving much info. Are you looking for a purchase loan? A refinance? Hard money? More information is needed before any help can be offered.
It’s a purchase loan. Would like to avoid hard money per se but understand it may be the only way to go. LTV on the higher side. Would like to keep points down so other terms can be discussed.
Unfortuately the area you are buying in is considered severly distressed. Because of this you are going to have trouble finding a lender that will lend at a high LTV no matter what the ARV of the property is. I would suggest looking at an HML or a private lender.
Is this for an investment or your own personal use? Is it a rehab? What’s the ARV?
This is an investment. I have the renters in place and two possible properties around the $100k mark. ARV should be around $145k or so