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.

They have contacted me for a commercial loan.

They have contacted me for a commercial loan.

If you would like to hold the property for longer, that is fine as well, just note that your loan payment will be done after 20 years.

When I asked for a loan, they asked if my business received money in Euros. 

Placed another 8 unit portfolio under contract in early March, unfortunately contract expired on April 23rd, couldn't secure favorable loan terms that wouldn't allow portfolio to meet cash flow numbers because banks changed lending practices due to Coronavirus pandemic.

Consider using an FHA loan to secure a 1–4 unit property with just 3.5% down and take advantage of tax benefits by living there for at least two years.

2nd home loan How did you add value to the deal?

I bought this property with a private interest free loan from a friend. the person i bought it from need cash fast so i offered them a low cash offer and they accepted.I had enough money saved up to rehab the house with my savings.

So they often will reduce the leverage of the loan (getting 65% instead of 75%) or deny it (which isn't as likely).