Does anyone know of any hard money lenders that will loan for 100% of the purchase??

Asked by Jennifer Bacon, Orlando, FL Sun Jan 8, 2012

I am looking for a hard money lender who will loan for the full amount of a house purchase....does anyone know of any lenders who will loan this amount? And if not can someone guide me any hard money lender???

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6
Mark LeMenag…, Agent, Lake Nona Orlando, FL
Sun Jan 8, 2012
That's 2 very interesting questions you have asked, especially when read together.

Sorry, I'm not aware of any hard money lenders who would go to 100%. If there were, they would probably want 20% interest.
3 votes
Normalina Ma…, Agent, Winter Park, FL
Fri Mar 1, 2013
Hi Jennifer,

Yes, 100% with partnership in the deal. If not 65% LTV or 85% on rehab at 65% ARV. Gap funding is also available. Feel free to submit your deals to our preferred private money lender in order to become approved based on the property and NOT on credit. Call 407-796-1496 x 102

http://www.clearvisionrealty.com/private-money-app.asp

Agents & Brokers are always protected.

Regards,
Normalina Martin, Licensed Real Estate Broker
Distressed Asset Specialist
Clear Vision Realty & Associates
"We Solve Ordinary Real Estate Situations in an Extraordinary Way"
407-796-1496 x 101
0 votes
Tammy Hayes, Agent, Port Charlotte, FL
Tue Jan 10, 2012
Talk with a mortgage broker. I have had buyers get an FHA loan and a VA loan with no money down. They asked the seller to pay buyer prepaids and closing costs.
0 votes
Tammy Hayes, Agent, Port Charlotte, FL
Tue Jan 10, 2012
Talk with a mortgage broker. I have had buyers get an FHA and a VHA loan with no money down. You ask the seller to pay buyer prepaids and closing costs.
0 votes
Alma Kee, Agent, Tampa, FL
Sun Jan 8, 2012
Hi Jennifer,

If you're a first time homebuyer with at least a 620 FICO you can get up to $7,500 to buy a property.

If you are credit challenged you can try a NACA Mortgage. Just be sure to have your Realtor sign you up online so she will not have to pay a large referral fee.

https://www.nacalynx.com/nacaWeb/purchase/purchaseProgram.as…

Otherwise it seems like it would be impossible for a hard money lender to give more than 70% of purchase price. Also expect to pay very hefty fees in addition to a high rate.

All the best,
Alma Kee
http://www.SoldOnTampa.com
0 votes
Mott Marvin…, Agent, Sunny Isles Beach, FL
Sun Jan 8, 2012
Jennifer Bacon:

Its very uncommon for hard money lenders to over 70% LTV. If you can assemble an appraisal showing greater value than the loan- it may be possible.

Another option is to pledge assests to make the loan safer for the investor.

Miami Beach Real Estate Guy
^_^ http:dBa22.com
-_- South Beach, Bal Harbour + Sunny Isles Beach
0 votes
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