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Updated over 4 years ago on . Most recent reply

User Stats

129
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113
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Jared Sandler
  • Lender
113
Votes |
129
Posts

Most Popular Reply

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20
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25
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Lisa Walker
  • Real Estate Agent
  • Fort Worth, TX
25
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20
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Lisa Walker
  • Real Estate Agent
  • Fort Worth, TX
Replied

Call them & Ask lots of questions! 

There is some listed here on Bigger Pockets, or search forums to see what name gets dropped often as reference. Connected Investors also has a list of local HML. Depending on what kind of funds you need, for what, and what terms you want- it is not a one size fits all and they vary a lot so I have discovered. I made a spreadsheet with all my questions about terms: qualifying rules, interest rates, %LTV, %LTC, loan term, can you extend term, draws, draw fees, closing fees, if appraisal needed, time-frame to fund, general contractor needed etc...

Many were similar terms, but a few stood out when I went down my list & filled in all these and other answers from them.

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