All Forum Posts by: Eugene Neal

 In regards to the Hard Money/Private Lending universe, you are looking at an interest only loan at about 10 to 12%. Down payment and rate are based upon your current real estate portfolio. If rehabilitation is needed, then reserves may be required as well. 

 Each deal is unique and I'll gladly run any scenario by the funding team. However most of the time the 20% is required.

 Anyone that is currently quoting a 6% rate without a full application is oblivious. 

We typically require a certain amount of reserve funds from borrowers in order to reduce the risk of default on the loan. Six months of reserve funds is a common requirement for first-time hard money borrowers because it provides a cushion of cash to cover unexpected expenses or temporary disruptions in cash flow that could prevent the borrower from making timely payments on the loan.

The reserve funds can be in the form of cash or liquid assets that can be easily accessed, such as savings accounts, money market funds, or stocks and bonds. The specific amount of reserve funds required may vary depending on the lender and the borrower's financial situation, but six months of reserves is a typical benchmark.

 From reviewing their site, I wouldn't suggest it. 

From researching their layouts and potential rates, I would stay away. They are not a direct lender and their last site update was in 2017. That is a reflag as 6 years and no redesign isn't acceptable. What type of loan were you requesting financing about? 

 From speaking with the funding team if you have a credit score over 640 then we should be able to fund this deal. The down payment amount required would be 20%.

 Are the deals where you are the investor as well? Or are these deals you are looking to wholesale?

 It is very rare to find a real 100% lender. Most direct lenders will require at least 20% down. 

 If you message me with your buying criteria, I can reach out to my network.