21 Jun 2011

Recently asked questions

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Weekly Blog 6/20/2011

I had an outpouring of inquiries regarding the Hampton Roads Real Estate Market, Hard Money Lending Guidelines, Hard Money Loans and General Real Estate Market questions during the past week. I wanted to take a moment to answer some of the most frequently
asked questions.

Here are the top 10 questions submitted this week:

10. Do you have any pre-payment penalty on any of your Hampton Roads hard money loan

No, you only pay for the interest you use on your hard money loan. Any unused interest is credited back to you.

9. Will you lend outside of the Hampton Roads Area?

Yes, although Hampton Roads, Virginia is our primary base of business, we also lend up to Richmond, VA and down to the North Carolina Border.

8. Are people still “flipping” houses in the Hampton Roads area?

Yes, the volume is still there, although the people doing it have shrunk. Before, everyone was “flipping”. Now I see that the majority of investors are the ones with past experience with Hard Money Lenders.

7. What does a “No Doc” Hard Money Loan mean?

“No Doc” means that the borrower or client does not need to qualify for the loan. The Hard Money Loan is based strictly off the ARV of the subject property.

6. What is different about Mortgage Consulting, LLC’s Hard Money Loan compared to other Hard Money Lender’s?

The main difference is that many Hard Money Lenders are out of business in Hampton Roads, Virginia. The other main difference is that many Hard Money Lenders in Hampton Roads require certain credit or down payments. Mortgage Consulting, LLC has several Hard Money Loan programs to fit many client’s needs.

5. I don’t qualify for any of your Hard Money Loan programs, but I have a great property in Hampton Roads and want to do a deal.

Mortgage Consulting, LLC will do everything possible to help you qualify for a loan. However, if you don’t qualify and have a property of interest in Hampton Roads, we can make it work by doing a Joint Venture deal.

4. How much are the weekly inspection fees?

There are no weekly inspection, draw or consultation fees of any kind at any time.Conni und Co 2 – Rettet die Kanincheninsel 2017 film trailer

3. I don’t qualify for a loan; can I bring on a partner?


2. What upfront costs are there?

Mortgage Consulting, LLC does not charge any upfront cost for any Hard Money Loan in Hampton Roads or the surrounding Virginia area. The only cost the client incurs is the fee for the independent, third party appraisal. The cost is usually approximately $350.00, which is paid directly to the appraiser.

And the number one question this week….

How do I get started?

Give us a call and tell us what you are looking to do and how we can help!

Happy Investing!

Ryan Lawrence

Mortgage Consulting, LLC

Hampton Roads Hard Money Lender