Stop reading if you want.2) I couldn’t guess what “There is a 6 months of grace period before interest payment begins” means.3) They call their $3555 charge a “Loan Fee,” stated a few lines up as 2%. 2% of $235,000 (loan amount) is $4470.4) Do you seriously believe the loan fee, “… IS 100% REFUNDABLE IF THERE IS ANY DEFAULT FROM THEPART OF THE LENDER OR IF THE BORROWER CHOOSES TO TERMINATE THE LOAN.”5) It’s okay to pay an appraiser directly.

If someone has a 2.5% loan they ain’t gonna move get less house just to pay more in interest.

@Jordyn Ohsnot enough info to helpbut if you're using a HELOC for the down payment AND getting a loan, then you're probably negative cash flow given that's 100% leveragei would never do that unless i were going to refinance in the short term

I would include servicing costs of the loan and licensing costs.

Bridge Loan: A bridge loan could provide the $150,000 you need until your tenant-free property sells.

There's no current loan on it right now.

Hi @Vincent Plant,You've gotten some great advice on what to look for in a hard money loan.

The key would be making sure to talk to a local banker that can do CRE loans for owner occupied properties as not all banks do them.

Use tools like the VA loan for house hacking and your Basic Allowance for Housing (BAH) to cover living costs while building equity.

It may or may not show on a credit report, depends on the servicing and you should have the loan serviced.Failure to include the debt on a future loan application is mortgage fraud, wanna go to jail?