rehab loan: No Money Down Fix & Flip Loan. - 09/06/16 05:27 AM
The little to no money down hard money rehab loan still remains at the top of the list of loan requests I get (all the time!).
Basically I get a the client who wants me to find them a lender who will buy the property and fund 100% of the rehab expenses.
This is a very tough request to fill because most hard money lenders and finance companies are a little more protective of their money. In this scenerio the borrower is asking the lender to take on all the risk. 
Again, very tough to find a lender excited about this scenerio, especially in … (0 comments)

rehab loan: Commercial Mortgage Warren RI. - 01/19/16 11:30 PM
If you are looking for a commercial mortgage in Warren RI my office is a good place for you to begin your mortgage application process.
Right now the commercial mortgage and commercial real estate in Warren is strong. Especially the multi family segment of the market.
My office has both traditional lenders offering very competitive programs. We also work with many lenders who are more forgiving about damaged credit or weak tax returns and can offer commercial mortgages based in most part on the equity in your investment property.
My office also has lenders that offer cash out refinance mortgages along with a variety … (0 comments)

rehab loan: Hard Money Pawtucket RI. - 01/19/16 11:06 PM

 
Hard Money in Pawtucket RI.
Real Simple Message Here. If you have a property or project that doesn't quite fit in with a bank but has a strong amount of equity, a private lender might be a good option for you.
My office works with hard money lenders looking for the following scenario's...
*Fix & Flip.
*Fix & Fill.
*New Construction.
*Rehab.
 
Generally there are down payments expected based on the actual project and figures. Most times, the cost of the repairs and rehab can be built right into the loan and you can draw these funds as need be.
 
If you have a project in Pawtucket, East Providence, … (0 comments)

rehab loan: After Repair Value Loan. ARV Loan. - 12/28/15 01:51 AM
As a commercial mortgage broker I get to see some really exciting loan products.
Here is an overview on a commercial mortgage the assigns value to the property based on repairs/renovation  not yet done.
This is not an official offer to lend but simply a look at some guidelines.
Collateral: 1-4 family non-owner occupied residential real estate.
Term: 12 months.
Loan Amount: $75k-2.5M.
Loan to Value: Up to 65% of the After Repair Value!
Credit Scores: 650 Minimum.
Experience: Must provide proof of prior rehab investment experience.
Closing: As few as 10 business days.
 
Naturally, you should call myself or a broker you normally deal with to discuss your exact project … (0 comments)

rehab loan: How does a rehab loan work? - 12/26/15 12:30 AM
How does a rehab loan work.
As a commercial mortgage broker this is a common question I hear. More specifically the question is really about how does the borrower get their funds to rehab their property. A commercial rehab loan can work several different ways.
With the big picture there are two basic ways the funds are released. The loan can pay as you go or the loan can pay as you need. Depending on the borrowers financial position and cash on hand one of these options may not work, pay as you go.
Pay As You Go. With this pay out method funds … (0 comments)

rehab loan: What is Hard Money? - 01/31/15 02:10 AM

What is Hard Money?
A hard money mortgage is an alternative to borrowing money from a bank or credit union.
The hard money mortgage is typically based on the subject properties equity with only a small amount of attention paid to the borrowers credit.
Loan amounts vary greatly from lender to lender based on what their comfort level is. Some private money lenders will not lend more than 50% of the properties value, while some will consider going as high as 75-80%.
Understandably, with the greater risk that these loans come with to the investor, rates and fees tend to be a bit more than what a traditional bank … (5 comments)

rehab loan: Hard Money in Southeastern Massachusetts. - 09/22/14 07:14 AM
Hard Money in Southeastern Massachusetts.

 
If you have found a multi family property in Fall River that needs a rehab loan, my office works with lenders who may be able to help.
If there is a foreclosure in Somerset that you would like to buy then fix and flip, my office works with lenders who may be able to help.
If you know of a good piece of land in Swansea that you would like to buy and then build a new house to sell, my office works with lenders who may be able to help.
If you've seen … (4 comments)

rehab loan: Fix & Flip with Zero Down. - 09/04/14 12:07 AM
 
One of the most common loan inquiries I get is from a client who has found that perfect diamond in the rough that they want to polish up real nice and then sell quickly for a boat load of money. Usually this client has never flipped a property before or they have been a sub contractor plenty of times, watched someone else do a flip and think they know what to do.

The problem is that they are rich in dreams but broke when it comes to the skin in the game. The request is that a private lender will … (0 comments)

rehab loan: Hard Money Loan in Action. - 08/31/14 11:51 PM
Here is a before and after showcasing Hard Money in action.
This client had originally gone to a local conventional lender who said "Yes" before they said "No". Party poopers...
A Private Money lender was able to come in and save the day!
Don't let an opportunity pass you by because of a banks indecision and tons of red tape. Private Money offers speed and common sense opinions on deals like this.
Jason
 
               
 
 
… (0 comments)

rehab loan: Rhode Island Investment Property. - 04/21/10 12:38 PM
Homeownership will no longer be a reality for many people.
This doesn't mean that many people will not still be looking to or be able to live in a house. For the right investors, scooping up a REO property or other aggresively priced listing with the intent of collecting rental income may not be that bad of an idea. 
Going forward the rental market should be fairly strong.
If you are interested in looking at the math (down payments, monthly payments and market rents) on any Rhode Island or Massachusetts properties, please contact me.
For the extreme bargain hunters, Benchmark Mortgage also has several … (2 comments)

rehab loan: FHA Rehab loan. - 06/16/09 02:18 AM
Product Announcement- 203K Streamline
My office is now able to offer this FHA rehab loan. This is a streamlined product, so the property cannot be in the need of anything considered major. This is also strictly for someone who will occupy the property as a primary residence; this is not intended for investors or house flippers.
Here are a few details on the 203k FHA Streamline.
"The 203k Streamline is intended to facilitate uncomplicated rehabilitation and/or improvements to a home for which plans, consultants, engineers and/or architects are not required.
Max $35,000.00 for improvements/repairs No Major rehabilitation or remodeling 50% of … (0 comments)