11/23/2019
Buying A House With Cash Private Money Lenders
https://rebrand.ly/King-100-percent-Financing-for-investors
Types of Fix & Flip Loans
Fix-and-Flip Loan
Best For
Hard Money Loan
Experienced investors with 2+ flips or novice investors working with a contractor.
Cash-Out Refinance Loan
Investors with existing investment property and at least 30% to 40% equity.
Home Equity Line of Credit
Investors with primary residences and 30%+ in equity.
Investment Property Line of Credit
Investors with equity in rentals who want cash for purchases.
Bridge Loan
Investors who want to close quickly and plan on getting other financing later.
Permanent Bank Loan/Online Mortgage
Buy-and-hold investors who want to flip
Best Regards
The King Brother's
Johnandrew & Alonzo
Buying A House With
Cash Private Lending
330.754.4707
1078 Citizens Parkway
Morrow Ga 30260, Ste-D
[email protected]
http://buyingahousewithcash.com
Buying A House With Cash Private Money Lenders
Hard Money Rates and Terms
Property Types FinancedNon-owner occupiedLoan Amount$50,000 – $5 millionARV70% (minimum of $75,000)Interest Rates1.25- 1.5% per month (around 15% average)FeesPoints: 5.5 to 6.5; no prepayment penaltyLoan TermsUp to 5 monthsTime to FundAverage of 12 days
Buying A House With Cash Private Money Lenders
While they don’t claim to be able to offer 100% fix and flip financing, can cover up to 90% of purchase and rehab costs, up to $4 million. With an emphasis on user-friendliness, they add a level of simplicity to the application process.
Buying A House With Cash Fix-and-Flip loans are advertised as “interest only” over a period of up to 12 months. Their interest rates are some of the best in the fix-and-flip sphere, as low as 7.49%. To qualify for the best rates and longest terms, you’ll want to come in with a personal credit score of at least 620 and have at least six months worth of cash reserves on hand.
They also offer 10-day funding time on smaller unit fix and flips, but this time may be longer for long-term loans or for ground-up construction projects. Overall, the simplicity of the application process and overall solid terms make a great option.
Rates and Terms
Property Types FinancedNon-owner occupied, also have rental property loans availableLoan Amount$75,000 – $4 millionARVUp to 75%Interest RatesStarting at 7.49%FeesOrigination fees from 1.75-3%Loan TermsUp to 12 monthsTime to FundAs low as 10 days
Buying A House With Cash Private Money Lenders is one of the leaders in the hard money lending space, and have the specs to continue holding their own. They require a minimum personal credit score of 600 for consideration, and a higher score to qualify for some of their better terms and rates.
They prefer to work with experienced flippers, so if this is your first time, be sure to work with a mentor or a licensed contractor to beef up your resume during the application process.
also offers a fix and flip credit line with a much higher credit limit (up to $25 million), fixed rates and terms up to 24 months for flippers with multiple projects going on
With terms generally around 12 months, rates between 7-12%, and closing costs around $995, should be on your mind when you’re looking for a lender.
Capital Rates and Terms
