Mortgage Grapevine


need hard money for a second for $60,000...best we have gotten is 20% rate 3 year term. Can anyone do better????
by misaza February 20, 2013 8:36 PM

I doubt that anybody real can answer this without knowing what type of property it is, the size of the 1st, the total value of the property and estimated CLTV, and the location. I could be wrong, but I am pretty sure the details are important.....especially on a nearly impossible request.
by adelphos February 20, 2013 9:22 PM

under contract for $416K, recent FHA appraisal at $470,500..buyer no longer qualified for fha. Secured hard money 1st lien at $305,000 12.99 3 yr term. Buyer has $70,000 for transaction but looking for better rate on second for $60,000 to complete purchase. 4plex, 2 3bdrms, 1 2bdrm, 1 1 bdrm near USC.
by misaza February 20, 2013 9:51 PM

Does he have plenty of reserves, leave your contact information.
by NapaValley February 21, 2013 9:00 AM

napavalley...not much reserves... mariaisaza@aol.com
by misaza February 21, 2013 1:22 PM

Less than 20% down, and needing a hard money 2nd to go behind a hard money 1st on a property in South Central L.A.?

As New Yorkers would say.....fuggedaboudit!

by adelphos February 21, 2013 2:11 PM

I can potntially go 70% of the purchase with more favorable terms!

Call me, we can perfrom quickly! I want to earn your business.

Full Service Mortgage Banker: Lending Only In California

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Marquee Funding Group, Inc.
24025 Park Sorrento Suite 150
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License ID: 01876915
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by RJS Hard Money February 21, 2013 2:26 PM


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