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Posted by CHERYL WILLIS on August 21, 2005, 8:26 pm
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We have an excellent "Pure" asset based, hard money loan program, as direct
lenders, for just about any type of real estate in which the client has
equity ,except owner occupied 1-4 family property.
We will not do an owner occupied residential property.
Small loans only! $50,000 -$200,000.
We don't care about the credit score.
We don't care about provable income, or employment.
We only care about REAL EQUITY!
http://www.allcityservices.com/hardmoney.html
We will lend up to 55% LTV, TOPS, of the Real Estate Fair Market Value.
35% LTV, TOPS, on raw land.
A second mortgage loan can not be higher than 50% LTV.
Here is the program:
There is never any up front money to us.
We need an appraisal from a local appraiser.
If the appraised value is acceptable, we will send the client to a local
attorney to begin Title work.
The client will have to give the attorney approx. $300.00 to begin Title
Work.
At closing we take 10 points off the top. Two of those points are yours as a
brokers fee.
The note is two years, interest only payments of 1.5 % per month.
There is no prepayment penalty after 3 months.
This is a perfect program for people to get rid of their credit card debt
and have no record of a loan on the credit bureau.
We will not enter the client onto any credit bureau as long as the monthly
payments are up to date!
We also have many other programs and we can finance any type of deal in
which there is at least 35% Equity, and that makes Economic Sense!
Please do not call with inflated equity deals! ( The client is buying a
property for $50,000 but it's really worth $38,000,000, etc, etc.)
Allcity Finance
http://www.allcityservices.com
Email: asset loan@allcityservices.com
Let's talk.
781 233 4850
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