Advice for Good Lenders in MD

[Alison Cromwell]

Hi, my name is Alison and I am a new investor. I am wondering who some good lenders would be in MD. Would a hard money loan be better without 2 years income or another way?

[Jon K.]

Quote from @Alison Cromwell:

Hi, my name is Alison and I am a new investor. I am wondering who some good lenders would be in MD. Would a hard money loan be better without 2 years income or another way?

@Brian Valdivia with www.beltwaylending.com is fantastic 

[Jason Park]

Quote from @Alison Cromwell:

Hi, my name is Alison and I am a new investor. I am wondering who some good lenders would be in MD. Would a hard money loan be better without 2 years income or another way?

 Hey Alison,

I am a local investor/lender in the area. For less then 2 years income, HML or Private money may be the best option as the lenders look at the specific scenario. From personal experience, my first property was a HML that I met here in BP that help me start the journey.

I hope this helps! LMK if you need anything else!

[Robin Simon]

Quote from @Alison Cromwell:

Hi, my name is Alison and I am a new investor. I am wondering who some good lenders would be in MD. Would a hard money loan be better without 2 years income or another way?

Its going to depend on some more info on what you are looking for - are you buying a property that needs any renovations (flip or BRRRR) or looking turnkey?

[Ryan Davies]

Most work this way 

• Rates: 9% to 13% (Most Deals are 11-12%)
• Terms: up to 36 Months (Most Deals are 6-12 months)
• Fees: 2-4 points(%) of loan amount paid at closing (Most Deals are 3 points(%))
• Minimum Loan Amount: $50,000 (For loans less than $250,000 $2,500 minimum fee)
• Max Loan: 65%-70% of After Repair Value(ARV)
• 100% Rehab Financing Available (Require 20% of purchase price down payment or cross-collateral)
• Closing Timeframe: 48 Hours - 3 Weeks (Most Deals are 2 Weeks)
• NO PRIMARY RESIDENCES, NON-OWNER OCCUPIED ONLY, BUSINESS AND COMMERCIAL USE ONLY.