Searching for a Hard Money Lender

[Suzanne Carden]

I'm looking to acquire real estate through a hard money lender who will lend based on a percentage of the appraised value.  In other words, I'm searching for a lender who provides equity only loans, based on the appraised value (3-5 years, amortized over 30 years).  This may be an interest-only or high interest loan.

I am not referring to a refinance, or getting equity out of my home, but a purchase based on value.

In other words, if I were to purchase a $1.2 million home and a lender sent out their appraiser to appraise the property. Say it was appraised at $1.9, for example. The lender I am referring to would loan a certain amount based on the appraised value, generally 70, 75, 80... up to 100%.  These loans are not based on the purchase price, or down payment, FICO score, or anything else, they are based solely on what they will lend toward the appraised value of the house.

Does anyone know of any lenders who will lend based on a percentage of their appraisal amount?

I am looking at several pieces. Some lenders ask if I am going to live in the house or if it is for investment purposes. These pieces are for investment purposes.

Any other questions, please let me know. Otherwise, please be kind enough to advise of any lenders you know that lend based on the appraised value of the property.

Thank you in advance ;-D