soft money loans starting at 6.99%

[Peter Abraham]

 

Loan Amounts               $125,000 to $1,500,000

 

Loan Purpose               • Purchase

                                      • Refinance (rate/term & cash-out)

 

Property Types             single family

                                        • Class I: multifamily (5+ units) and mixed-use

                                        • Class II: office, retail, warehouse, self-storage, automotive services

 

Debt Coverage Ratio      Class I: 1.20 | Class II: 1.25

LTV                                   Class I: 70% | Class II: 70%

Fixed Period                    3 & 5 year options

Minimum FICO                650 Middle Score

Pricing                             Rates starting as low as 6.99%

Term                                30 year fully amortizing / 30 year loan

Prepayment Penalty        Equal to the fixed period

 

                                        • Simple loan documents

                                        • No loan committees

                                        • Common sense underwriting

                                        • Permanent financing, NO balloons

                                        • Quick Closings – 20-45 days!

 

 

Peter Abraham

813 400-3537 office

[e-mail]

www.jeremacdevelopment.us

[Edwin Gibson]

Hi, Peter. I have a rental I wanted to cash out , property valued around 85,000 I just need 45,000 to pay off rehab debt and purchase another property. property free and clear and rented long term for 1005.00 a month. If this is something you can do please let me know . I also have a few other properties I may want to refi.   Thanks Ed  [e-mail]

[Edwin Gibson]

haven't heard back from you yet, please contact me [e-mail]

[Peter Abraham]

sorry Edwin, just saw your email, the min loan amount is 125k per property, i have other programs that can help you but not as good as this one.

[Paul Merlino]

Need 250k on a 290k home mortgage in Nevada, if you can help please let me know. Thanks

[Peter Abraham]

Paul, ii can get you a 70% lTV first mortgage,  to start with i will need a 1003 and tri merge credit report and a short exec summary

[Michael Porvaznik]

Peter,

 

Does your program work for investor/rehabbers like me?  I purchase REO's, rehab them and flip them.  Let me know. Thanks.

[Peter Abraham]

yes it does, please contact me to discuss your deal

[Michael Porvaznik]

Peter,

I'm waiting on the bank to respond to my most recent offer.   We've offered $125,000 and would need $25,000 for rehab.  ARV is $225,000 and the plan is to sell the property for $195,000+  A home closed this past month in the neighborhood for $195,000 and they didn't upgrade, paint, etc. so I feel confident my house would move fast at $195,000.

How would your program work on this deal?

[Peter Abraham]

we can only lend of as-is or purchase

[Luanne Dvorak]

Pete,

What is the LTV on sfr? Can you send me any other info? Do you lend in Ohio?

[e-mail]

Luanne