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Updated almost 6 years ago,

Lara Taylor's profile image
Lara Taylor's profile image
Lara Taylor
  • Member since Jan 24, 2019
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26
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5
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Lara Taylor's profile image
Lara Taylor's profile image
Lara Taylor
  • Member since Jan 24, 2019
Connect
Lara Taylor
5
Votes |
26
Posts
Starting Out

Hard Money wanting 3% to process application

Lara Taylor
Posted

Working with a broker on a business loan. Ltv us 4.3 million asking for 2.2 million for rehab. Have filled out the paperwork to get it started and now the lender is asking for 3% up front in order to process the loan. Said that is locks me in. I am having a hard time processing this ( new to hard money lending) is that normal procedure?

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