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Updated almost 6 years ago on . Most recent reply

Ben Ortiz's profile image
Ben Ortiz's profile image
Ben Ortiz
  • from Tampa, Florida
  • Member since Sep 22, 2018
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Ben Ortiz's profile image
Ben Ortiz's profile image
Ben Ortiz
  • from Tampa, Florida
  • Member since Sep 22, 2018
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Ben Ortiz
  • Tampa, FL
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Starting Out

How do i know I'm getting a Great Deal w/ HML?

Ben Ortiz
  • Tampa, FL
Posted

My wife and I are newbies in this Real Estate investing and we are looking to rehab and sell properties. A HML is offering me 30% Down on a 150k Stated Loan with a possible 7 to12% interest loan. We currently have a low credit scores due to little to no credit history but have over 125k in cash reserves. We don't know if its a good deal or what questions to ask or what to look for. Can someone help us understand? We are very grateful for any advice. God bless!

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Tim Johnson's profile image
Tim Johnson's profile image
Tim Johnson
  • Lender
  • from Grand Rapids, MI
  • Member since Jun 29, 2018
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Tim Johnson's profile image
Tim Johnson's profile image
Tim Johnson
  • Lender
  • from Grand Rapids, MI
  • Member since Jun 29, 2018
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Tim Johnson
  • Lender
  • Grand Rapids, MI
445
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Tim Johnson
  • Lender
  • Grand Rapids, MI
Replied

If you credit score is low,that not terrible for hard money, I have seen a lot higher, how many points is he charging?

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