Wednesday, June 18, 2008
As a mortgage broker bringing you this transaction, how do I get paid?
NextGEN financing (aka Hard Money) is no different than conventional financing. It is simple. You bring the company a borrower. They price the loan to you. (Think of yourself as a wholesale buyer.) You price the loan to your client, adding your fees as appropriate. You stay involved in the loan (or not) as you choose and prior to closing, you submit a fee demand to them and they include this in their lender documents for you to be paid directly from escrow. NextGEN (Real Estate Hard Money, Hard Money Lender) lending is on demand and is a great source for you to tap into as a broker.
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