HML Request

Financing, Hard Money Lenders, Private Money
1

Need HML

no income verification
no credit check (have good credit - don’t want inquiry to show)

LLC with 6 mos credit and 35k cash with an additional 30k in CC Line

will put 5% cash down.

Loan to purchase price 95%

Loan to Value (as is)- 75 - 85% (at most)

Loan to Value (after repair) - 65-70% (at most)

Considering Light rehabs ONLY- 5k to 10k (at most)

plan to purchase, rehab and sell - less than 3 months - 6 mos most. worst case scenario if no sale (unlikely) - refi to pay off original loan.

Actual Cash needed (projected) - 80k at most.

NC foreclosures - possible HUD’s available to investors.
so 30 day close a must.

private message.

2

Doubtful that you will find a hard money lender that basis the loan on ARV and doesn’t pull credit.

There are a couple who do loans based on as-is but ltv is usually only 60-65%.

Most HML that do pull credit only need to do once every so often…not with every deal.

Everything else lines up and you should have no problem finding someone who can get you on the right track with a 70-75% arv loan.

3
  1. investment loans can you share who the as is loan people are as 50 60% is still a good thing if you do not have your credit pulled ?? AS well where do they lend as in what states thank you
4

my MAIN concern is i have excellent credit - but i’m also trying to purchase a personal home with fiance…again, i live on LI.

if credit is pulled once…what types of flags might that put up to a bank doing a check for my personal mortgage…if any. our personal mortgage lender will probably end up being like Chase, HSBC or another large bank…

i want to avoid questions on credit verifications.

5

http://www.myfico.com/CreditEducation/CreditInquiries.aspx#20

This wont bring down your score unless your having tons of inquiries over a long period.

Check out the link, it discusses this there.

You’ll be fine.

6

thanks investor…i’ll check it out.

7

Better and more flexible lenders out there.

8

TMCG,
Are you in NY?

9

yes

10

Investwell/UMTH down in Texas is a good reputable hard money source. They only
do single family homes and will pull credit just about everytime you use them.
They have a good system in place and have been very professional in my dealings
with them. After you have completed several deals with them they will become more
flexible in terms of ltv, rates, as well as the number of rehab loans they let you have
open simultaneously.

11

we’re still looking for properties.

anyone familiar with investwell ?