Hi everyone…as the subject states… I am looking for a rehab/purchase lender. I think i am prefering a hard money lender, if the % work out…
Anyone have anyone they have used or know someone even?
I have pretty much tapped out my current direct funding limitations which is why im looking @ the HML. I am open to any input though.
The deals are in the 500-1.2M range, all single family and would be sold within 6 months. they would be @ 79% of the ARV I “could” if needed throw in monies to bring the % down if needed.
yeah thats what I was going to say. no one will loan you money at 79%LTV. I can point you in the right direction for hard money for purchases only, no rehab, but there at 65 to 70 %ltv or better. if youre interested i will send you info.
thanks guys i guess i should have been more clear…the deals sit @ 79% right now with zero input from me…
as i said in my first post i “could”, because i would have to through in money as needed to get them acceptable.
i guess i was just letting ya know where the deals were…
in PHX its hard to find POS homes or anything that has 65-70% deals, they all need some cash input .
HML will be happy to do business with you if you can buy a property below 65% or if you buy it at 79% and put enough money down to make it below their 65% requirement. They don’t care. There are different types of HML, you will want to look to the left under HML and call a bunch of the HML to see what type of terms you like. Each HML differs a little.
