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How can you find a hard money lender for a Michigan home, primary residence cash out refinance.

by gwbous_171_660 from , . Oct 24th 2012 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,588 contributions

Probably not your best choice.. The HML is very expensive, and often requires you to have an exit strategy, meaning, you need to pay off the loan by either selling or refinancing within a short period of time.. if you have credit issues, you're better off spending money on getting your credit fixed so you can qualify for the loan without the need for a HML... If your credit is good, but you have other reasons for needing a HML, then you can search for then on www.scotsmanguide.com... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Oct 24th 2012
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Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,821 contributions

Work with a local Mortgage Banker/Broker. They will be able to connect you with an appropriate HML that can help you. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Oct 24th 2012
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Linda Wintersteen (Linda123)
#63 ranked lender in Arizona - 1,256 contributions

WHAT size loan amount?? are you upside down or do you have equity?? linda

Oct 24th 2012
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Michael Dickens (Mdickens)
#78 ranked lender in Illinois - 1 contribution

Hard money lenders require you to have 40%-45% minimum equity in your home for you to cash out. I also do not recommend hard money lenders, because your interest rate will be ridiculous, and they would be charging you sometimes 10 points for you to take the money out. They can take up to 3 months to get an appraisal done, and they may try to charge you an application fee. Why are you trying to do a hard money loan? Suggestion, if you are trying for cash out because of low credit score, then contact us at The Mortgage Marketplace, Inc and we will be able to help you do a F.H.A. cash-out which will save you money and allow you to keep your monthly payments much lower than what a hard money lender may do for you.

Oct 24th 2012
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Kenny Salame (westcoastlending)
#23 ranked lender in Nevada - 1 contribution

We are a Hard Money Lender in Michigan. Please email details on the property, amount needed and your exit plans out of the loan. There might be other options available to you so please feel free to contact us for a free consultation.

Oct 24th 2012
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