Are there any hard money lenders in the Philadelphia area with no upfront fees?(All costs rolled into loan)

Asked by Keith Marrone, Inwood, NY Thu Mar 29, 2012

1. Will be flipping residential properties.(REO's and distressed)
2. What is max LTV?(Will be using 65% rule for all properties)
3. I have 5 years of construction experience

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Larry Lichtm…, Agent, Bala Cynwyd, PA
Thu Mar 29, 2012
NO. No such thing as 0 upfront costs. There will always be something up front. Don't let anyone tell you different. At least some fees must be paid like appraisal, evaluation, lender inspection, origination processing, certs, etc.

And as Alan says below, "It better be a (REALLY) strong deal." You must also have very good credit.

Also will help if you have proven track record of successful flips.

Hopefully, maybe Alan can get it done for you. Good luck with your project.

All the best,
Larry Lichtman
REALTOR, Property Manager
Your Real estate Resource For Life
Cell/Text: (267) 254-7994
1 vote
Kmortelliti, Home Buyer, Philadelphia, PA
Sat Nov 19, 2016
Yes. One On One Commercial Lending, LLC. Call 215-718-4932
0 votes
Ian, , Philadelphia, PA
Sat Apr 2, 2016
We do a lot of hard money lending in the Philadelphia and surrounding areas. We usually close within 5 days if needed. I do the underwriting in the area so I can usually tell my borrowers in the same day if we are interested in funding. We fund construction and acquisition costs and primarily focus on the asset as opposed to credit. There are no application or review fees. Feel free to ring me or shoot me an email.
0 votes
Hard Money M…, Other Pro, New York, NY
Sun Jan 19, 2014
If you are having difficulty obtaining conventional financing, or simply need a loan closed fast with creative and flexible terms, consider hard money.Contact us below...
0 votes
Sheri Curci, Agent, Newtown, PA
Thu Mar 29, 2012
i have a few out of Hoboken...

JohnCurci RE/MAX 215-757-2889
0 votes
Michael N., Other Pro, Bucks, AL
Thu Mar 29, 2012
You should start shopping around for hard money lenders. Below are a few to start.

Good luck
0 votes
Robert Weiss, Agent, Rockledge, PA
Thu Mar 29, 2012
Yes, There are lender that have no upfront fees. Commonly, they will charge a slightly higher interest rate as they are absorbing the fees. I have seen them in approx. the .25% higher range depending on if this is a refinance or a purchase.

This is not a 0% down mortgage.

Let me know if we can help you.

Bob Weiss
0 votes
, ,
Thu Mar 29, 2012
I just closed one last week,

But they are not pretty and it better be a strong deal. Call me if you want to run it by me

Alan Openshaw
Cornerstone Lending Inc
Southampton Pa 18966
215 953 0800
cell 267 992 7276
NMLS ID 143960
0 votes
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