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Mortgage Grapevine

A Good Apartment Lender

Ok please no hard money, as this is a very rate sensitive deal where anything above 7% will not be considered. I have a customer looking to refi all his small units (200 +) in Los Angeles, 65% LTV is pretty common. I am trying to do my best to avoid broker's pretending to bank these deals. I was impressed from what I saw from Apartment Lending Group out of Colorado, but someone said they are just a broker and not a bank. Does anyone have someone they like??? I actually have two more clients with very similar request.
by NoBalogne March 10, 2009 3:49 PM


Hello!

Please give me a call - we are DIRECT LENDERS!!

Patricia Martinez
FIDELITY BANCORP FUNDING
(714)908-5100 x177
pmartinez@fbcommercial.com

I look forward to working with you!
by moneygirl4u March 10, 2009 3:57 PM


worldwide financing inc apartments
windsor8@ptd.net
by project44 March 10, 2009 4:07 PM



Call this guy, got thier rate sheet this morning, 6% on a 3yr

Esvin Galeano
Vice President
Union Bank of California
Phone 714-990-7338
Fax. 714-672-0087

by ScottN March 10, 2009 4:12 PM



NoBalogne,

Comerica

Lighthouse Commerical (Search the Vine)

Good Luck!
by HunterWarrior March 10, 2009 4:19 PM


Thank you all for your responses
by NoBalogne March 10, 2009 7:01 PM


Can I ask you a question?

If you get offered a deal below 7% as you requested, and say it WAS Apartment Lending Group, what does it matter? We have an aggressive Bridge Loan product at 6% interest only, with ONLY a 6 month prepay. It closes in the name of the investor (insurance, pension, etc). Does it really matter?

Our hard money is OUR product, but we place the Bridge elsewhere. Don't get hung up on the WHO and get the deal closed at your requested parameters. Getting the right program for your borrower should be your only concern.


GMC Mortgage Capital
Joe Alonso
Sr. Account Executive
305-380-9996
J.Alonso@GMCMortgageCapital.com
www.GMCMtgCap.com
by Joe-GMC March 10, 2009 10:52 PM


No need to find a broker for apartments at that LTV. I HUD approved bank should be able to help you on a deal like this no problem.

If you can't find one, or need help, let me know.

darryl@glblsolutions.com
by TheMaineEvent March 11, 2009 12:43 AM


NoBalogne,

I can do your deal. I am a direct lender. For apartments I can go as high as 85% LTV on a non cash-out and 80% on a cash-out. Please give me a call or email asap.

Benny Anand
Evanston Financial
www.evanstonfinancial.com
banand@evanstonfinancial.com
by Benny Anand March 11, 2009 10:27 AM


Real Estate Investors bailout special


I am interested in your file . Can close within 10 -15 days if all documents are received. Will get you a Pre Approval within 8-24 hours.

Specializing in Real Estate Investors Funding


AHF is set-up with an affiliate program that specialize in Real Estate Investors Funding.


I have listed a few of the important points about the loan program below:

* 100% Funding (Purchase, Closing Costs, Construction, Interest, Points, Proof of Fund Letter

* No Monthly Payments

* Loans Up To 70% LTV Of The "After Repair Value"

* 6 Month Loans

* Quick Closings

* No Pre-Payment Penalties

* No Junk Fees

* Residential 1-4 Family (Non-Owner Occupied Only)

* Credit Score 660 Middle Credit Score (Borrower may bring on credit partner (friend, family or business associate) to be on title if they do not qualify

* All Rehab-Expenses Paid, Possible Cash Back Paid At Closing.

Does Blanket Loans Nation wide.

Please email 1003,appraisal , contract, and executive summary to johnhstallings@hotmail.com or call John.
Work directly with Hedge Funds, Private Placement Partners,Syndication s, IRA's. Down payment assistant available and simultaneous closing. Love apartments, condo's ,Manufactured Homes and Hotels with cash flow.Located in San Antonio TX.

John Stallings
Finance Director/Business Consultant
Hard Money Division of American Hero Finance
210-949-1337
Website:www.americanherofinance.com
by johnhstall59 March 16, 2009 12:35 AM


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