Avatar's Blog
» Award Winning Loan Packages
Parden the pun... it's Oscar season. Like any production in which the audiences opinion makes or breaks the deal, hard money loan packages should be developed and packaged to appeal to the lenders who will review it and let you know if you 'win' the big prize - the loan you are seeking.
Packaging your loan may take the expertise of an expert broker. Brokers charge for their services, generally by taking 2-4 pts (each point equals 1% of your loan in dollars) when the loan closes. Naturally using a broker will cost you more. However, if you can't create and collect your financials, photos, and executive summary in an acceptable manner, the value of a reputable, successful broker can be easily measured in the thousands or millions of dollars you will realize because your loan is funded.
Here's the tip - if you do not write well, do not know direct lenders (naturally, you know at least one - you are reading this tip at www.avatarfinancial.com) are not sure if your financials present a complete and favorable picture, seek out a good broker who can demonstrate that she or he can he do the work for you. Do not use a broker who merely finds lenders for you. That's easy. Use one who knows how to help you put together a package and demonstrates success in getting others funded. Ask for references.
