Need private hard money lender to do short term bridge loan on Virginia owner occuppied property. Loan would be for approx. 6 months max. Willing to pay high interest and points. Contractor ready to begin work.

You’ll find that most hmls will not take a 2nd position lien. So assuming that you have a 1st mortgage already, it would need to be paid off.

There were a lot of details that still need to be addressed and worked out.

70% arv is typical. If this is enough to cover costs, payments, fix up, and payoff then what type of financing will you use to refinance when completed?

Upon completion of the project, I would be at 60-65% LTV. The plan is to immediately refinance to roll the loans under one DOT at a market interest rate.

That’s a great plan, assuming you could qualify for the refi.

I’d recommend contacting a mortgage consultant that can assist you with both loans.


It seems you are on the right track. But remember that the ltv would have to include all fees, points, and general third party costs.

I have taken the closing costs, etc., into consideration. I have also considered letting the private lender take payoff my first so as to allow them to be in a first lien position. Since we are only talking a short term bridge loan, I will only pay high interest for a short perid.

65% ARV is the MAX.