looking for hard money loan
I live in La Center, WA
i'm looking for a private lender to finance my construction/ owner occupied)
1. Lien position- 1st
2. Home value when complete- $450,000+ (+/-3500sf on 4.65ac)
3. Loan amount $150-175,000 (LTV ONLY 33-38%)
5. I will pay up to 6% for 60-120 months (no pre-payment penalty after 12 months)
6. IF your saving/CD pays you 0.5-1.0%, why not get paid
up to 6%, loan is fully secured!!!
If interested please email Ogvoffice@yahoo.com
or call 360.513.2869
by washingtonstate January 22, 2013 8:01 PM
Try your local Craigslist to find a local investor. Nobody here is going to take the risk of a 5-10 year construction loan for 6% interest. You might hear from some scammers, but nobody legitimate will be interested.
by adelphos January 23, 2013 3:36 AM
construction will be done in 6-9 months and i can refi in 12-18 months, that's why i wrote (no pre-payment penalty after 12 months)
by washingtonstate January 23, 2013 3:43 AM
You're asking for a hard money loan on a construction project, yet you're only willing to pay up to 6%? Good luck with that.
by The Tolerant Educator January 23, 2013 1:57 PM
YOWL! 6%? Dude get serious. I wouldnt blink at 14% for what you want---think of your equity gain vs the interest charge. Its worth 14% easy.
by Cedonulli2 January 23, 2013 10:51 PM
This guy is a waste of time and energy. Wants to use his own appraiser and to be paid at closing.
by DMGFUNDING January 27, 2013 10:49 PM