"DON'T LEAVE YOUR EQUITY OR MONEY SITTING ON THE SIDELINES DOING NOTHING FOR YOU"
Hello All,
It has been a rough couple of months, but we are lending again!!!!
The "New Normal" in the lending world is less aggressive than Pre-Covid-19, but there are funds available to lend NOW!
I have been a real estate investor and lender for over 2 decades and have seen the worst of times. GOOD NEWS there is always a way to make money in the real estate game no matter what the circumstances.
AND with every downturn in the market, there is opportunity for the savvy investor to take advantage and be successful.
But lets’ set some expectations NOW, so you do not waste your time shopping around and being told the same thing over and over by every lender who is back in the market. "Lenders are going to be risk adverse right now and protect themselves. This is realty: LTVs are lower, rates are higher, and guidelines are stricter."
The programs below do not exist right now, however may come back into the market at some point when investors start buying loans from financial institution again at a PREMIUM. There is no clear- cut time frame for this to happen. It may take years!
1. The days of 10% down on acquisition and 100% of rehab funded by lender are gone for now. The reason is investors who buy loans from financial institutions are limping back into the market and not offering to buy loans at a premium. Will this product comeback? Maybe, but not any time soon. It depends on the economy and when investors start buying loans at a premium again.
2. The days of lending at rates in the 5's and 6's for asset-based loans for long term 30 year fixed mortgage will be gone for a while. The reason is the same as #1 above.
3. The days of 80% LTV cash out for long term asset-based loans are gone for now. The reason is the same as #1 above.
SO, what can you expect?
* Acquisition & Rehab Lines of Credit for FIX n flip Loans with rates as Low as 6.99% and as high as 12% depending on your credit and experience.
* 20-30% down payment and up to 100% rehab funded by lender. Again depending on credit and experience.
* 65% ARV
* Points will range from 2-4 depending on (you guessed it) credit and experience
* Interest reserve options that are required in some circumstances. 6-12 months of mortgage payments paid at closing to cover the payment until you sell or refinance. If property sells or you refinance and there are funds leftover, they will be deducted from your pay off.
* Bridge Loans with Rates as Low as 6.99% up to 12% depending on credit and experience.
* Long Term- 30 Year Fixed - Asset Based Loans Down to 7%
"DON'T LEAVE YOUR EQUITY OR MONEY SITTING ON THE SIDELINES DOING NOTHING FOR YOU"
If you are interested in finding out what you may qualify for please click on link to answer questions pertaining to your credit, experience and liquidity. I will review and email financing options to discuss on a call with you.
If you are looking to either refinance and existing property via 30 year fixed or with short term bridge loan please click on link to answer questions pertaining to the subject property.
To your success!
Respectfully,
Bob Green
Principal
[email protected]
www.rplgfund.com
844.871.3918
"Asset Based Lending Company Specializing in Financing Real Estate Investors Nationwide"
