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By David Schmidt - January 12, 2018
When assessing the viability of a loan one of the main points of discussion between COHI and the borrower is what is your exit plan. How do you inted to pay off this loan? These types of loans are not a long term solution and I need to verify that the borrower is aware of that. CoHI will always want an viable exit strategy within 1-2 years that makes sense and is believable.
Hard Money loans are more expenseve than soft money or conventional loans. The reason that they generally are more expensive is becasue the lender is taking more of a risk than the avergae bank loan and derserves a higher rate of return.
Please contact David Schmidt at CoHI 970-922-3277 to discuss your loan and how we may be able to help.