A payday loan is a short-term loan, it can be easily obtained by an employed borrower when they need urgent cash and the payday is still a few days away. Payday loans are very simple and easy to apply for but usually imply high interest rates. Sometimes interest rate can reach as high as 700 %.
Usually you are required to verify that you are employed, also you need to provide your payday loan lender with such information as social security number, your ID or driving license, proof of residency, bank account details, employment history. The information required can also vary from lender to lender depending on their lending criteria and company policy.
Payday loans providers normally have no credit checks. So you can obtain the money you need no matter what your credit history is. To apply for a payday loan you need to sign out a personal check. Interest rate fees and charges are specified and added to the sum stated in check. The repayment is carried out either by withdrawing the money from checking account or by depositing the post-dated check. Payday loans are short-term they usually are not longer than 14 days.
Once you get your application for a payday loan approved you get the money deposited directly into your bank account.
go off the appraised value
I have a potential client whom just purchased a home with 85,000 borrowed cash a couple weeks ago. The house will appraise for 110,000 and he is wanting to re-fi and pay off the individual that loaned the money and cash-out the difference. Question??? Can we go off the appraised value for this scenerio or the purchase price(Seasoning?). Also is title seasoning be an issue?
Stated with less than one year self employment
Texas Loan, self employed less than a year, 2×30 mortgage, every other tradeline is perfect, 627 mid fico, OO, good assets, same line of business for 12 years. Prefer a no prepay penalty. Who can do this loan. What about Online fast cash advance?
Texas Stated Income Less than 1 year self employed
Mid fico 627, 2×30 Mortgage, No Prepay, 40K purchase price there about, 40K liquid assets, same line of work 12 years, no bank statements or DBA, you can call and get the listing for the business on information 1411, he has a certificate of occupancy in the business name and a building permit, and he is ASE Certified Mechanic, his business is automotive, he can provide 3 letters of reference as well. The business is around 9 months old and doing well. Besides the 2X30 his credit is perfect. This could go OO.
Hard Money Loan for a Rehabber in Texas
Anybody know of a true hard money lender doing loans in Texas. Had a rehabber call me, says he needs 4 of these a month. Says he can refer 3 more rehabbers to me. Here’s what he needs, he needs a lender willing to lend up to 65% of AFTER REPAIRED VALUE. He is buying at 50% of LTV and needs the other 10 or 15% for repairs. These are REO purchases. I know of 3 private lenders here in town that will do this, but they won’t work with me other than a skimpy referral fee. I’d much rather have a part of the 5 to 10 points and 15% interest they are getting if you know what I mean.