PrivateLenders.co

USA National 🇺🇸 Real Estate Private Money Consulting Directory & Joint Venture Partnerships
Residential, Commercial & Business Funding

Funding Requirements For This PML

FUNDING REQUIREMENTS For the following Form Below:

* You can get
up to 65-75% total loan to After Repair Value
in 1st lien with standard hard money rates (We'll be as competitive on terms as we can). The higher the borrower experience the more leverage they qualify for. 1st time borrowers with no experience should expect 65% LTV usually. Some experience usually goes up to 70%. High Experience of 5+ deals may possibly qualify for 75% but fully up to lender's discretion.

* Credit stacking for
gap funding (low as 0 down) at bottom of this form.
(We may choose to do
PMP
and bring in equity partner to pay down payment in exchange for equity in event credit stacking doesn't work for you)

*
You must include the greater of $3,000 or 3% of the total funded amount to be paid to admin at closing as a consulting fee or as a joint venture wholesale fee in the event the consultant is not paid by the lender directly at closing. Tell escrow instructions that excess cash at closing goes to our admin. You will wholesale the deal to us using the Joint Venture Form and underwrite our fee into the wholesale fee. First you must fill out the form. Then we will underwrite the deal to make sure not to waste your or our time, then admin will get it under contract in the event we are not direct with our lender. Admin will instruct you after applying how we will proceed.

* You will need to show cash reserves to the lender in order to close unless we bring in a liquidity sponsor as needed (we would change the deal to be done with equity sharing PMP (private money partner) on home page "option B" or utilize credit stacking at the bottom of this form for qualifying individuals/companies. If you don't have the down payment or liquidity it's much easier to go with a private money partner to share in equity in the deal. If you want to save yourself from giving up substantial equity and you have good credit 680+ fico on at least one credit bureau, proceed with this lender on this page as it's much less expensive than giving up a lot of equity in your deal.

Please answer 1 Question to yourself before applying

1. What do you tell in the escrow instructions for admin to get paid? The answer is written in this page. After you confirm you understand, continue to the form

All private money real estate transactions (excluding those solely involving transactional funding) must allocate the greater of $3,000 or 3% of total private money/partner funding secured at closing to cover administrative fees. These fees are typically paid from the overfunding amount at closing or, in certain cases such as refinance consulting or when loan requests exceed ARV limits for a purchase directly by the borrower.

Escrow instructions should specify that the overfunding amount is designated for administrative/consulting fees, or alternatively, the fees can be incorporated into the wholesale fee at closing as part of a JV partnership.

PrivateLenders.co Admin