Hard Money Loans California: Joffrey Long

[Joffrey Long]

Joffrey Long: Hard Money Loan Rate Survey:

Let's see what hard money / non-bank rates and costs are for buying a buy and hold rental house, taking money out of a rental house and for short-term flip properties.

No pitch here, and no conspiracy to set prices, just you ( the non-lenders ) telling each other what rates and terms you're seeing.

To protect lenders and mortgage brokers against restraint of trade accusations, we (lenders and loan brokers and other providers of loans) should refrain (as I will) from posting our rates here.***

If you are a non-broker / non-lender, please post rates you have found, better to post without the name of a lender and people can contact you direct if you are willing to share info.

If you just post rate and points, or rate and length of loan without posting all normal info, it loses some of the meaning. Best to post all of:

rate

points and costs

length / term of loan

prepayment penalty or minimum interest requirement, if any

This assumes only non-owner occupied loans, loans for investors, not loans for people who live in the property that they are borrowing against.

Thanks, all, hope this helps,

Joffrey Long

*** Because of restraint of trade / pricefixing laws, lenders should not post rates here as we should be very careful to avoid any accusation or circumstance where it looks like we're agreeing on, or conspiring to charge a certain rate. My rates are set and available for review, and are completely independent from any acknowledgement or agreement with any other lender or loan broker as to what rates they may charge.