Real Estate Loan Needed.
I won a $300,000.00 commercial property at an auction. It has 3 store fronts on US Hwy 1 in Pawtucket, RI. It also has two town house style two story apt residences on it and two full sized out door advertising billboards on top of the store fronts facing I-95. It produces $3,500.00 per month of income. I’m looking for a short term loan of $125,000.00 to pay taxes insurance and auction balance.
Glenn P DeRosa
772 409 6000
Welcome to SPRINGLEAF FINANCIAL SERVICES. DO YOU NEED A LOAN?,SPRINGLEAF FINANCIAL SERVICES Offers Business Loans, Educational Loans,Personal Loans, Retired Loans, Debt Consolidation Loans, Auto Loans and Mortgage Loans. Loans From minimum of $8,000USD to maximum of $50,000,000.00USD with 5% interest rate offer, over 1 to 40 years duration.
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Glenn do have any collateral to put up for the short term loan?
work directly with a lender and we offer the following funding programs:
$100% financing/bond funding. This funding is 100% financing, but, the principal must be able to be able to pay for the underwriting, due diligence and appraisal fees. We charge NO UPFRONT FEES to review a transaction. After reviewing the transaction, we submit it to underwriting and we do a conference call. We do some "Q & A" with the client and at the end, the client decides if they want to go forward. They don't pay any fees until they decide And, we even give out references after the conference call. Yes, you can call our clients and get feedback.
Recourse Funding. Commercial and residential loans from $25,000 up to $500,000. This is an asset based, no-credit score and no personal guarantee loan. We offer bank rates from 4% to 5.5%. 70% LTV based on the ARV (after repair value) of the property. For buy/sell, it's 12-18 month interest only and for buy/sell, we can do a 5 to 10 year term based on a 20 to 30 year amortization.
Non-Recourse Funding. For our non-recourse lending for loans of 70% to 80% LTV based on the ARV. So, for example: you have a client that needs a loan for $3 million and the property is worth $5 million (refinance scenario). Here, there is no personal guarantee and it is asset based. The client MUST be able to show reserves and prove he can service the debt.
Should you have any other questions either e-mail me at firstname.lastname@example.org or call me direct at 551-208-7661.
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