Anyone dealt with a company LOANGUYS?

[Robert A. Coloma]

For those experts, your input is highly appreciated . I'm a newbie here!

My offer just got accepted for an REO property and needs some rehab before we can close the loan and ready for rent.

I got call from a lender LOANGUYS to do a bridge loan. I was told that they can do it as low as 5.75% for 12 mos, no docs just purely asset base, no prepayment penalty.

I am new to this. Did anyone work with them or are they even legit?

What are things I need to know with this kind of loan?

Thank you

[Jennifer Turner]

I *almost* did a bridge loan through them, but ended up firing them and using a private money lender again. They were super slow, had literally no idea how to read a basic purchase agreement contract, messed up on most of the paperwork, and ultimately were going to cause us to close 2-3 weeks late, with a lot of extra fees and less LTV than originally promised. I would never use them again unless I was in dire straights. If you have good credit and any experience at all, use someone else!