I am a loan officer and have a real estate investor who is looking for hard money loans made on 70% ARV (after repair value) 100% of repair costs I/O for 12 months no pre-pay. I found a lender who is able to do that. They hold repair money in escrow and release it after repairs have been inspected and verified by one of their approved inspectors. I am trying to compete with them and win her business. She was quoted and I verified:
13% interest
12 months
No pre-pay
I/O
4 points
$460 in fees
She is looking to do 4 deals a month with one lender so if anyone can point me in the right direction I would greatly appreciate it.