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Updated about 6 years ago,
Next step in the lone process, hard money.
After partnering with an private investor, willing to put up the credit score and/or 3 months of bank statements showing at least $15,000 in the ending balance, to help qualify for a hard money loan, the company in qustion is "Lending Home". What are the next steps nessecary in the process of successfully getting the loan approval.
Loan Details
-We lend up to 85% of the Cost Basis (Purchase Price) of the property or up to 70% of the ARV, depending on the deal. (Whichever is lower)
-We lend 100% of the rehab funds.
-The two numbers above are added together for one total loan amount. (min. $75k)
-This is the amount you pay the INTEREST ONLY payments on. (monthly)
-Base Interest Rates range from 11%-12%, depending on down payment %
-Loan Term: 12 Months
-No Prepayment Penalty
-No Junk Fees
-We work with individuals, as well as entities such as an LLC's or Corporations.
property 1105 Paula DrArlington, TX 76012
$164900
3bed
2 bath
1560sf