Offlinei am curious about this private lender and i don't understand the following criteria.
# Terms from 6 to 36 months, no pre payment penalty.(does this essentially mean "no seasoning" ?
# Construction & Rehab loans up to 100% LTC at 65 LTV of the ARV.
# Land loans up to 50 LTV.
# Residential refi up to 65 LTV, purchase up to 80 LTV.
# Commercial refi up to 75 LTV, purchase up to 80 LTV.
# We are not FICO driven up to 65 LTV.
can someone please break this down and is this a good lender to borrow from?
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the no pre payment fee means they wont charge you a fee if you pay the loan as soon as whatever time you and lender decide.
and the 80% LTV means loans up to 80% of the purchase price
it seems like a good hml
you would want to check for interest rates and points if any
The hard money lender guidelines you posted are about the typical guidelines followed by most of the hard money lenders. Depending on the rates and upfront and payoff fees, it can be decided if it is a good lender to borrow from.