At M&M Private Lending, LLC, we pride ourselves on being direct, asset-based lenders offering hassle free hard money loans to our clients within a short amount of time. Many prospective clients have asked us what our general requirements and terms are. Here is what you need to know:
- Loan amount: from as little as $50,000 up to $2.5 million.
- Up to 65% LTV
- Interest only 12 to 36 month terms.
- Residential investment property.
- Interest rates begin at 10.5%.
- Monthly payments will include interest and taxes.
- Appraisal is required by our lender appraiser.
- Compliance outsource fee is $350 on HUD
- M&M Processing fee is $350 on HUD
- Underwriting fee is $750 on HUD
- Lender origination may varies.
- There is no prepayment penalty.
As asset based lenders, we do not require any of the following:
- Bank statements
- Tax returns
- Credit report
Speaking of clients, we recently closed on two private money deals in North Miami Beach and Miami. The first is a $72,000 cash out loan to an investment company for a condominium. The other is a $239,250 loan to 4770 Biscayne Blvd Unit 950 LLC.
This update is brought to you by Michael Internoscia, Principal Broker and CEO of hard money lenders Florida company M & M Private Lending Group. We have over three decades of experience specializing in private money real estate loans and we pride ourselves on providing our esteemed clients a service that’s personalized while delivering low rates and closing costs. We also offer mortgage note investments and have worked extensively with brokers and affiliates. Call 305-363-7169 or 954-445-4434 to speak with a lending representative about our Florida private loans or visit our website at https://mmprivatelending.com to fill out an application form.