Posted by Jimmy on April 05, 2006 at 10:39:48:
shop around with other HML’s. you may be able to shave a few points off the deal, and lower the interest rate by a point or 2. but the basic arrangement is not out of line. HML’s take risks other lenders won’t touch. and they are willing to make loans by looking only at the deal, and not at you.
Hard or Private Money, geez - Posted by Bill in Vegas
Posted by Bill in Vegas on April 05, 2006 at 09:15:47:
Hi,
trying to do this one deal and my hml ran outta cash so checked around and one quote was crazy, 14.9%, plus 6 points, plus 2-3k to close.
I about died. trying to close this deal in a few days and can you even belive that. oh, and it would take 2-3 weeks.
ZZZ!