Mortgage Grapevine

NOO Condo Rehab - Direct Lender Only

Property is in West Palm Beach.
by need answer November 3, 2009 7:58 AM

Hello
I am a Direct private Nationwide Hard Money Commercial Mortgage Broker with access to over 2500 lenders. We charge No Upfront fees nor Due Diligence fees. Below is our Loan program. If you have a loan scenario that fits our loan program please email it to me or give me a call.
Property Types: We will consider all properties except for: primary residences, churches, bars, casinos and adult entertainment.
Lending Area: United States
Terms:
1st mortgages. Generally balloon in 1-2 yrs. Rates start at 13%
Interest Only-typically with an Interest Reserve to match the term
Prepayment Penalties: No Prepayment Penalties
Loan To Value:
65% construction/existing structures –Equity Driven
55% Horizontal development—infrastructure
50% Raw land
Loan Sizes: $75,000 -$5,000,000
Credit Score: Minimum 600
Doc type: All loans are No Ratio. We will ask for financials but will not calculate income and ratios.
Fees: We charge No Upfront Fees nor Due Diligence fees. Brokers Protected
Please provide me with the complete details of your project and loan request.
Bill Moffatt
Direct- 888-237-2348
Fax- 828-963-9532
bmoffatt@frmortgageinc.com

by Bill Moffatt November 3, 2009 10:08 AM

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