Phone: 800-418-0081
Email: ann@buynowhardmoney.com
Website: http://www.buynowhardmoney.com
Address: 440 Middlesex Rd Ste 234 Tyngsboro, MA 01879
States They Lend in: Massachusetts and New Hampshire
•Massachusetts: eastern half of Massachusetts from Worcester and immediate western suburbs to points east, and from the Cape Cod Canal north.
•New Hampshire: from Concord south, and occasionally in the Lakes Region.
• do not lend in other areas
Avg. Closing: 2 weeks
Types of Loans:
- Single family rehab projects
•Multi family acquisitions and rehab
•Commercial acquisition and development
•New construction
Terms
•First position only, always secured with real estate
•75-85 % of purchase money and 100% of rehab or construction funds
•10-12% Simple interest depending on the deal, interest only payments
•2-3 points, usually paid up front, occasionally they will accrue points and even interest payments until maturity
•6-12 month term, depending on the deal
•Up to 70% of ARV
•Must take title in an entity (LLC or Inc.)
They Do NOT:
•Lend in 2nd position
•Lend on any property intended to be owner occupied
Special Circumstances:
•They will consider cross collateralization in lieu of cash
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