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Updated over 1 year ago,
Private money lender, scam?
Just wondering if this private money lender is to good to be true, i found it on my facebook group, its from crown lending with website at loandirectllc.com, they ask me if i had a property yet , i told them no, i just said pp- 120k, rhab- 40k, all in at 160k they said
LOAN REPAYMENT SCHEDULE
Loan Balance:$160,000.00
Adjusted Loan Balance:$160,000.00
Loan Interest Rate:3%
Loan Term: 30 years
Monthly Loan Payment:$674.57
Number of Payments:360
Cumulative Payments:$242,843.13
Total Interest Paid:$82,843.13
80% ltv on Rehab and this is 100% financing so no cash out refinancing
Note: The monthly loan payments was calculated at 360 payments of $674.57
IF YOU TOTALLY AGREE WITH THE TERMS LISTED ABOVE, KINDLY SUBMIT A SCAN COPY OF YOUR VALID ID CARD AND A RECENT PROOF OF INCOME RECEIPT FOR VERIFICATION BEFORE WE PROCEED FURTHER WITH APPROVING THIS LOAN.
Your Satisfaction Is Our Priority.
Anyone have ides