How To Get Better Loan Terms In Real Estate
Warren Ifergane
?? Private Lender ?? Fix & Flip ? Rental ? Construction Loans ?? $?? ??????????????+ ?????????? ???????????? ?? We're Hiring Loan Officers!
“How do I know which lender to submit my loan request to? Every time I send a full package, they either can’t do the deal or give me ridiculous terms. I feel like I’m wasting my time.”
I get this type of feedback all the time. I’ve originated more than $22 million of loans, and I can tell you that every lender has their specific criteria and nuances. So the problem is indeed common for many borrowers—particularly in difficult-to-fund situations such as a fix-and-flip, cash out, or other types of bridge loans. And in most cases, you are wasting your time.
So what are your options? Luckily, we live in a much more connected world, so your financing options are abundant. Unluckily, this means a lot of work on your part to filter through all the lenders. It takes years to develop meaningful relationships and remember which ones specialize in what type of loans, not to mention how competitive their terms are in certain situations.
This is where firms like ICG10 Capital come in. If you want to find the best home, do you use a real estate agent? You bet. They have access to much more resources, experience, and connections. It’s the same concept for your business-purpose loans. The amount you save on the quality of the loan terms is mind-boggling.
Firms like ICG find you the best terms: highest LTVs, lowest interest rates, no prepays, etc. And perhaps more significantly, you don’t have to spend time shopping around for lenders to see if they’ll do your deal. Sometimes, ICG funds the deal themselves, and other times, they kick it out to the most appropriate lender.
Best of all, it’s a 1-minute application, and you’ll know instantaneously what you can get.
Welcome to the future of borrowing. Now start worrying about something else, like what you’re going to have for dinner. You know, big stuff.
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To learn more about ICG10, or to submit a deal for consideration, contact [email protected], or call 954.798.0726.
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