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Updated about 12 years ago on . Most recent reply

Craig P.'s profile image
Craig P.'s profile image
Craig P.
  • Real Estate Investor
  • from Denver, Colorado
  • Member since Jul 3, 2011
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74
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Craig P.'s profile image
Craig P.'s profile image
Craig P.
  • Real Estate Investor
  • from Denver, Colorado
  • Member since Jul 3, 2011
Connect
Craig P.
  • Real Estate Investor
  • Denver, CO
24
Votes |
74
Posts
Private Lending & Conventional Mortgage Advice

Guidance Line

Craig P.
  • Real Estate Investor
  • Denver, CO
Posted

All,
Has anyone else used a guidance line from a conventional bank to fund rehabs (acquisition and renovation)? I just got one approved (took several months) at up to 80% LTC at roughly 4.75% and 1/2 pt ORI.

Paperwork is much more time consuming than a HML however the rate is certainly attractive.

I have not submitted a deal to the bank to have them fund yet thus I am curious what everyone else's experience has been. My bank does their own valuation in house.

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