Posted by James Strange on January 12, 2003 at 19:08:29:
Have you checked out rehab funding? They advertise on the site. Look for their banner at the top of the page.
In need of new Hard Money lender in Illinois - Posted by BrandonT ( IL/St. Louis )
Posted by BrandonT ( IL/St. Louis ) on January 12, 2003 at 15:13:29:
Hey there,
In the past year, I’ve been using Statewide Capital investments as my hard money lender, and the relationship has worked out just right, due to the fact they don’t lend based on credit score but rather grant their loans based almost soleley on LTV ratios, and are willing to lend the entire necessary sum of the rehab process, assuming the total needed for purchase and fixup did not violate the given required LTV.
This is what I need, but as of January, Statewide has pulled their funding for Illinois and Indiana " in an attempt to become more centralized " and now I’m left in the dark with no lender to help fund a couple properties I have my eyes set on. In fact, due to dilemma that two of them in particular right now are requiring a pre-qual letter to make an offer as they’re REO’s, I can’t even make my offers until I can line up a new lender.
In any case to sum up my rambling, I’m in search of a new hard money lender in the fine state of IL that bases their lending more on property criteria and LTV than credit scores and ratio’s. Any advice or recommendations would be highly appreciated.
BrandonT
Southern IL/St. Louis