I have checked with the big national lenders such as b2r, colony, Visio, Lima who charge 6-7 percent and 3-4 points. 

In addition applying with b2r and Lima one.

I would not go with Lima, B2r, colony or any other broker selling their product unless you have absolutely exhausted every option.

If you live in Lima Ohio like Ben.. you probably don't need as much as if you live in Bay Area like Brian.. ( don't know were serge lives)... and we all have to work.... at something .But those I know that are retired generally own everything free and clear.. and live off of surplus rental income or interest income.. then we all have the things we like to do.. if its just living in a home somewhere never eating out never travelling hoarding your money that's one thing.If you need a budget for travel.. bling for wife... credit card for wife.. school for kids or grandkids. etc etc... so it really depends as they say.I do see many on BP that have a quasi magic number that they can then quite their day job and that is 10k a month off of positive cash flow.... so for whatever that's worth...

After about 12 months, the plan is to move them to commercial loans with a local bank (5-year balloon) or 30-year fixed with one of the national asset-based lenders (B2R, Lima Capital, etc).

But Lima is 10 Hrs away...

I find it very interesting even for myself who has been in big distressed deals bak in 2009.Stay tuned.Bob

So - Brandon and Heather were in Lima a couple of weeks back.

Another choice is companies Like Lima one.

Check out lenders like Lima One, Lending One or Dominion Financial.