I am looking for funding to refinance all or some of the following properties:
1. one bdrm oceanview condo in N Myrtle Beach, SC
2. two one bdrm condos in same complex in Myrtle Beach, SC
3. 4 unit house in Princess Anne, MD
Total value of all property is $455,000. Total debt service is $266,000.
I also have my primary residence with a balloon payment due in 3.5 years, no rush on that one. Property value is $600,000 and debt service is $420,000. Rate is ok at 4.75% am over 30 years.
Also looking for funding to upgrade my Laundromat in Salisbury MD. I own the business and equipment and lease the building. In business since 2002.
Please contact Pete Damen at firstname.lastname@example.org
Peter Damen 410-726-5658
I can help you with your loan with no Upfront Fees. You would have the privilege to deal with direct private lenders that provide short and/or long term loans that you want. These loan programs are used to finance your Project/Business/Properties and we close loan within 2 weeks max.
For more details and inquiry contact:
I am interested in regular loans no hard money please. I have equity and can do 65-70% LTV
Hello Peter here is my email address email@example.com, Contact my email address for more information.
If you wouldn't mind sending us an executive summary, we would be glad to take a look.
Swift Access Lending
Contacts: Our Web Phone: (469) 995-7986
We offer rental property financing for residential investment properties nationwide - No tax return required or personal debt to income counted against you. Bank rates/terms.
We make “asset-based” loans, which means we evaluate the cash flow of your rental property rather than your personal debt to income ratio.
Our typical client owns 5 or more units, and has been turned down by the bank due to insufficient income shown on their tax returns. We make it simple to qualify and use a common sense approach to approving your loan. Personal debts do not count against you.
Currently we have a 5 unit minimum - $500,000 loan minimum, however this is going to change by end of year to 1 unit minimum with loan of $100-150K minimum.
The main difference's between us and a traditional bank.
1. We offer 10 year fixed rate/ 30 year amortizations. In general, banks only lend up to 5yr/20 amortizations
2. We offer non-recourse loans - Banks only recourse
3. We do not require tax returns and do not look at your personal debts. We only care about the cash flow of the property - With banking, there is something called global debt service ratio that can kill a deal very quickly because personal debts are counted against you.
4. We allow 90 day value seasoning from the day you close. This will allow you to cash out based on fair market value with out waiting 12 months, therefore leveraging the equity to buy more property sooner than later - Most banks will not allow you to leverage the equity until property is owned for 12 months
5. We do not care how many properties you own, we can finance as many as you would us like to.
6. Minimum FICO 660 - Most banks 700 and higher
7. Cash out for anything - Most banks want to know where the cash is going to be spent
8. Minimum Debt Service ratio 1.2% NO Global Debt Service Ratio. We only look at the asset- Traditional banking count personal debts against you
Bob Green, THG Capital Fund