Real Estate Private funding

Financing, Hard Money Lenders, Private Money
1

Can someone give me some advice regarding how are documents prepared? Funding rules? What can or can not charge when funding a residential purchase. Thank you. I appreciate all the expertise of those who already have done this. Private Funding.
Yokee

2

Hi,

Title / escrow company prepares documents for closing, hard money / private money have little or no qualifying requirements and buyers normally put 20% down plus closing costs!


          GR
3

Thanks GR, to get detailed information from the buyer am I allowed to use the uniform residential loan application for fannie mae? Also where does my loan terms and instructions go? Should I send them to the closing agent or the settlement company to include in the title and deed? The lender must be in the title as a lien holder, right?
Yokee

4

Hi,

Because lending is a combination of state and federal law and I don't know where your subject property is, it is best to confer with a title / escrow closing officer on what information you provide as lender to them for your borrowers loan.


            GR
5

I appreciate so much your response. I am in Virginia and the property is also located in Virginia Beach. I have contacted several real estate lawyers for consult but no one has returned my call. I also found someone in Richmond, Virginia lending Hard Money Lender, I sent him an e mail but so far, No response. I already gave my word to my friend that I will finance her home, and I need a lot of advice doing it.
I have posted my questions in the forum with title: Help Real Estate Private funding advice. Any advice or foresight is appreciated.
Yokee