We wholesale properties and are looking for a Hard Money lender for projects in Indiana and Illinois. We have several clients who need to secure financing. Brokers are welcomed.
Flex
Hard Money Loans are great to purchase wholesale properties. Will you also need cash out refinances if these properties will be retained?
We have a few L/O’s who can do take out loans. But we can always use more. What HM programs do you have?
HM Lenders generally offer programs that will fund up to 100% of the purchase + fix. This must be within 65-75% of the after repaired value. Typically terms that lenders may offer:
Rates from 12-18%
0-6 pts
6-12 mo terms
2 week avg. close time (can be done faster for rushes)