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Updated over 8 years ago on . Most recent reply

User Stats

68
Posts
54
Votes
Renee Ren
  • Real Estate Agent
  • Irvine, CA
54
Votes |
68
Posts

Can you refer a lender with less interest rate?

Renee Ren
  • Real Estate Agent
  • Irvine, CA
Posted

Hi investors. I'm looking for a hard money/private money lender who charges less interest rate(under 10%). Can any of you refer your best funding sources. Please explain interest rate, points and the terms they offered or required. Please ONLY references with whom you or someone you know have personal successful experience. Thank you very much for your input.

  • Renee Ren
  • Most Popular Reply

    User Stats

    743
    Posts
    424
    Votes
    Brandon Battle
    • Real Estate Agent
    • Buena Park, CA
    424
    Votes |
    743
    Posts
    Brandon Battle
    • Real Estate Agent
    • Buena Park, CA
    Replied

    Let me save you the trouble,you aren't going to get it.Hard money lenders don't compete for business anywhere near what real banks do so they have no desire to drop their rates for you unless you are going to buy several million dollars worth of properties with them over a very short time span.I have spoken to 10 of them and can't get anyone below 10.99%.

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